Dutch arm of Air France-KLM to shed 7,500 jobs: report
Reuters
Published Oct 28, 2014 05:30AM ET
Dutch arm of Air France-KLM to shed 7,500 jobs: report
AMSTERDAM (Reuters) - The Dutch arm of Air France-KLM (PA:AIRF) plans to cut its workforce by 7,500 jobs, or 25 percent, largely through outsourcing, a Dutch daily newspaper reported on Tuesday.
The measure is expected to be announced at the release of quarterly earnings by the French-Dutch carrier on Wednesday, the Algemeen Dagblad said, citing the head of the trade union for airline personnel in the Netherlands, De Unie.
A company official could not immediately be reached for comment.
KLM hopes the measure will help it to cut 4.4 billion euros ($5.6 billion) in outstanding debt by reducing costs, the report said.
Air France-KLM's plans to grow its budget brand across Europe angered pilots at the French arm of the business, who went on strike for two weeks in September, costing the company some 500 million euros.
The airline is expected to post a 6 percent decline in revenue and 15 percent higher net profit of 166 million euros for the third quarter, according to analysts polled for Reuters.
(Reporting by Anthony Deutsch; Editing by Mark Potter)
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