Cathay Pacific announced restructuring and layoffs of 8,500 people?

Yes101October 2 1 day, Cathay Pacific Airways Group announced that it would lay off 8,500 employees, accounting for about 24% of the total * * * 35,000 employees. At the same time, Cathay Dragonair (a regional airline wholly owned by Cathay Pacific Group) will stop operating today.

Of these 8,500 jobs, about 5,300 Hong Kong employees will be laid off in the next few weeks, and about 600 non-local employees may be affected. In addition, the remaining 2,600 positions are now vacant due to the implementation of throttling measures such as freezing recruitment and closing some overseas bases in recent months.

Cathay Pacific intends to seek regulatory approval, and Cathay Pacific and its wholly-owned subsidiary, Hong Kong Express Airlines, will operate most of Cathay Dragonair's routes.

Extended data

Global airlines are facing a "wave of layoffs"

It is understood that Cathay Dragonair was formerly known as "Dragonair" and has been established for 35 years. Cathay Pacific and its parent company Swire Group purchased 35% shares of Dragonair on 1990. In 2006, Dragonair became a wholly-owned subsidiary of Cathay Pacific, and was officially renamed Cathay Pacific Dragonair on 20 16.

It is reported that Cathay Pacific is not a special case. The COVID-19 epidemic has dealt a great blow to the global aviation industry. At present, airlines all over the world are facing a "wave of layoffs". Like Cathay Pacific, Singapore Airlines has no domestic aviation business. In September, it also announced 4,300 layoffs, accounting for about 20% of its total staff. At present, most of the major airlines in the world signal that the positions of as many as 400,000 employees may be affected, some of them are directly laid off, and some of them are forced to take vacations from June 5438+ 10 next year.

Yangguang. com-Cathay Pacific announced that it would reorganize and lay off 8,500 people and stop operating Cathay Dragonair.