AVIATION | Staff Reporter, Hong Kong

Cathay plans to cut 30% of staff costs

There will be changes to mid and senior management.

A report from Bloomberg said Cathay Pacific Airways Ltd is planning to cut 30% in employee costs at its Hong Kong head office as part of the biggest revamp in two decades, amidst mounting competition that caused the carrier to post its first annual loss in eight years.

The savings will come from changes to middle to senior management that will be announced by June, said Asia’s biggest international carrier in a statement on Friday. A transition to the new structure will occur over the summer.

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