Business News - British Airways to trim workforce by 3,000

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British Airways to trim workforce by 3,000

LONDON (UPI) -- British Airways said Friday it would cut 3,000 jobs as it lost more than $484 million from April through the end of September.

The pre-tax loss was far more than the $418 million industry analysts had predicted, The Times of London reported.

Revenue for the six-month period also fell, dropping 13.7 percent compared with the same period of 2008.

Chief Executive Officer Willie Walsh said airline's 12-month revenue would likely be down by $1.65 billion by the end of the year.

"Our costs are some $663 million lower and manpower has been cut by 1,900 through reduced overtime, increased part-time and targeted voluntary redundancy," Walsh said.

Nevertheless, British Airways would further reduce is payroll by 6 percent by March, he said.

He said the airline would also make "permanent changes to the way we run our business."

Copyright 2009 by United Press International

This news arrived on: 11/06/2009

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