SAS announces a further 200 job cuts
Published: 27 Jan 13 16:17 CET | Print version
Online: http://www.thelocal.se/45848/20130127/
Scandinavian airline SAS has announced that a further 200 administrative jobs are set to be cut, on top of the 800 already announced at the struggling carrier.
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The information that the cuts to administrative staff now total around 1,000 people emerged at a meeting between the firm's leadership and unions on Thursday.
SAS last November struck deals with all of its unions to cut salaries and pensions and raise working hours in a bid to turn the company's dire financial situation around.
The job losses are the latest in a series of aggressive cost-cutting measures aimed at meeting pressure from low-cost rivals such as Oslo-based Norwegian, Europe's third-largest budget airline.
The firm announced in a statement in December that it expects the cost-cutting to lead to pre-tax profits in the fiscal year ending 2013.
The Swedish state, which holds a 21.4 percent share in the firm, confirmed in November that a buyer was actively being sought for the beleaguered airline.
Sweden, along with Denmark and Norway - which each hold stakes of 14.3 percent - have jointly invested more that 10 billion kronor ($1.5 billion) over the past decade to shore up the firm's mounting losses.
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