Air France to cut 5,000 jobs to reduce costs June 21, 2012 - 16:28 AMT PanARMENIAN.Net - French airline Air France has announced it is to cut more than 5,000 jobs by the end of 2013 in an attempt to reduce costs and return to growth, BBC News reported. The figure represents just under 10% of the total workforce of 53,000. The job cuts form part of a restructuring plan to restore profitability, in the face of increased competition and soaring fuel costs. Air France says it is hoping to avoid compulsory redundancies through natural turnover and voluntary redundancies. The company estimates some 1,700 jobs could be lost through natural turnover. Air France, one component of the French-Dutch air carrier Air France-KLM and the first air carrier in Europe, launched a major cost-saving programme, Transform 2015, earlier this year, after posting a loss of 809m euros (£653m) for 2011 and a first quarter net loss in 2012 of 368m euros. Shares in Air France-KLM shot up by 6% after the job cuts announcement, the AFP news agency reports.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Related sections Latest news Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals  Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation.Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan.Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush.Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |
