- POSTED: 12 Jul 2014 01:17
Spanish loss-making airline Iberia announced plans for up to 1,581 job cuts, insisting however that the departures would be voluntary.
MADRID: Spanish loss-making airline Iberia announced on Friday plans for up to 1,581 job cuts, insisting however that the departures would be voluntary.
Iberia, part of the International Airlines Group (IAG) along with British Airways, has been cutting jobs and staff costs to try to return to profit.
"Iberia has today informed its employees and trade unions that it intends to start a consultation period for a collective redundancy process which will involve up to 1,581 jobs," IAG said in a statement.
"This option was discussed as part of the collective bargaining negotiations with the airline's unions last April," it added.
"It is a continuation of Iberia's transformation plan to introduce permanent structural changes across the airline enabling it to grow profitably in the future."
A spokesman for Iberia said all the redundancies would be voluntary, with the final number depending on how many staff choose early retirement or compensation for leaving the company.
The Spanish flag carrier has said it accumulated 850 million euros (US$1.16 billion) in losses between 2008 and 2012 due to high fuel costs, a sharp economic downturn in Spain and high operating costs.