IAG to inform thousands of British Airways employees on their fate

0
27

IAG to inform thousands of British Airways employees on their fate

International Consolidated Airlines Group PLC (LON:IAG) is to contact thousands of British Airways employees today to let them know whether they will be kept, let go or offered a lower salary.

Over 6,000 workers accepted voluntary redundancy, but the airline is looking to cut 12,000 jobs in a bid to protect its finances.

READ: Hammerson and IAG stoke funding market back up after quiet July

Cabin crew and ground staff will be offered one of three options: being made redundant, having to sign a new contract (most likely with worse conditions) or keep their job with their existing contract.

Those who are being let go will be offered to enter a fast-track talent pool when new roles are available.

“This is a very bleak day for the incredible BA workforce and will go down in the history of the airline as the day that it put the interests of the boardroom ahead of its passengers and workforce,” said Howard Beckett, assistant general secretary at workers’ union Unite.

“This is a business that made record profits last year. It has predicted that it will return to health in two to three years – and it even has the money to buy another airline, Air Europa. It has the cash to afford to make different choices, as can be seen by how it is conducting itself with its Iberia and Aer Lingus operations, but instead is using this crisis to remodel what was once the flag-carrier as a low-cost airline.”

Last month, BA agreed with the pilots’ union 270 compulsory redundancies, while the number of pilots shrinks to a ‘holding pool’ of the equivalent of 300 pilots employed on reduced pay and ready to return to flying as demand picks up.

With parent IAG reporting a cash burn of £178mln per week, BA had originally proposed to make up to 1,255 pilots redundant.

Shares in IAG dipped 1% to 184.7p on Friday afternoon.

Proactiveinvestors.co.uk

News For Oil

Leave a Reply

avatar
  Subscribe  
Notify of