Europe's second-largest airline, Lufthansa AG, announced it expects to cut 400 administrative jobs and will reconsider its schedule of new aircraft deliveries in a bid save 1 billion euros (approximately $1.41 billion) by 2011.
Lufthansa executives said the company will eliminate about 400 positions by not replacing people who leave the company. Amelie Schwierholz, a Lufthansa spokeswoman in Frankfurt, told the Associated Press the company hopes to avoid any firings and the majority of the cutbacks will take place at the airline’s main in Frankfurt.
Lufthansa employed over 100,000 people as of December 2008 and has avoided layoffs and job cuts since then. Earlier this year, Lufthansa reduced hours for 1,000 ground workers outside of its
Frankfurt and Munich hubs and shortened workweeks for
cargo-division employees.
According to reports, the airline will announce details of its cost-savings program during its quarterly earnings report July 30.
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