SF Gate: Air New Zealand plans to cut work force by 15 percent over next four years

[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

 



=20
----------------------------------------------------------------------
This article was sent to you by someone who found it on SF Gate.
The original article can be found on SFGate.com here:
http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2003/10/14/f=
inancial1308EDT0134.DTL

----------------------------------------------------------------------
Tuesday, October 14, 2003 (AP)
Air New Zealand plans to cut work force by 15 percent over next four years



   (10-14) 10:08 PDT WELLINGTON, New Zealand (AP) --
   Air New Zealand will cut its work force by 15 percent mostly through
attrition over four years as part of a plan to slash annual costs, the
carrier said Tuesday.
   The airline employs 10,000 people overall and the job cuts are part of a
plan to reduce costs by 245 million New Zealand dollars ($146 million) a
year.
   The business plan will be "progressively revealed over the next few
months," airline chief executive Ralph Norris said in a statement to the
stock exchange.
   The cost cutting targets will be achieved within four years, Norris said,
and will come from "all areas of operations, as Air New Zealand becomes
more efficient and utilizes new technology."
   The airline also anticipates a "significant lift" in revenue as it "moves
to capture market opportunities," he said.
   Most of the staff cuts would come through natural attrition, he said,
adding that about 10 percent of employees normally resign from the company
each year.
   The plan will streamline ticket purchasing and traveler check-in and
reshape some domestic and international services. No details were provided
of the planned flight changes, but Air New Zealand has already cut the
number of services to many destinations in Asia and Europe to reduce
costs.
   The national airline has been rebuilding in the last two years after
narrowly avoiding bankruptcy with assistance from a 885 million New
Zealand dollar ($527 million) government bailout.
   Air New Zealand is also pushing for an alliance with Australian carrier
Qantas, saying it would not be able to withstand intense competition from
its bigger rival.

=20
----------------------------------------------------------------------
Copyright 2003 AP

[Index of Archives]         [NTSB]     [NASA KSC]     [Yosemite]     [Steve's Art]     [Deep Creek Hot Springs]     [NTSB]     [STB]     [Share Photos]     [Yosemite Campsites]