EasyJet, which plans to resume flights on June 15, is the latest in a slew of airlines to announce job cuts amid the Covid-19 crisis.
Stefano Rellandini | Reutersannounced it would reduce its workforce by around a third, as the coronavirus pandemic continues to weigh on the tourism industry.
EasyJet said it would take decisive action to "remove cost and non-critical expenditure from the business at every level," which would also see cost-cutting measures being taken in areas such as airport contracts and marketing. EasyJet also said on Thursday it was allowing its aircraft to lease, which was expected to generate proceeds of between £500 million and £650 million for the firm. Its funding initiatives as a whole were expected to generate additional liquidity of £2 billion.
CEO Johan Lundgren said in a note to investors that the company was making "very difficult decisions," but wanted to protect as many jobs as possible in the long term.
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