Life back to normal in Singapore here

Monday, May 22, 2017

Cathay Pacific sacks 600 staff in major shakeup

Hong Kong's flagship airline Cathay Pacific said Monday it would cut 600 staff including a quarter of its management, as part of its biggest shakeup in two decades to repair its bottom line.
In March the company posted its first annual net loss in eight years, citing intense competition as lower cost airlines, particularly from mainland China, eat into its market share.
It pledged at the time to slash costs by 30 percent after its $74 million net loss in 2016 reversed a $773 million profit in the previous year.
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BT: My take is that if SIA could go on and be profitable for year 2017, then
it is hats off to the management team headed by CEO Goh Choon Pong. Otherwise, it may go the way of CX, retrenching staff.

1 comment:

Anonymous said...

Oil hedged at 67 US !LC carrier the one profitable,so go there ,call it integrated crews and more flights to China and Myannar and such growing new democracy.Retire those overstayer and overpaid ,get them to serve.Silver and LG got money but dont know where to spent.Attrition for swans,let them go swan lake and sink or swim.Kind CEO dont make last long,KPI is king.