There May Be Layoffs In Lufthansa Switzerland

There may be layoffs in Lufthansa Switzerland. Swiss airlines made an announcement. Swiss airlines, the Swiss unit of Lufthansa, reported that it could make additional layoffs in the second quarter due to the coronavirus outbreak. Stating that it will lay off a thousand people in a 2-year period in October, Lufthansa Swiss currently employs 9 thousand employees. Interviewing the Swiss newspaper SonntagsBlick, Swiss CEO Dieter Vranckx said, "Within the scope of the announced one thousand layoffs, we have completed the termination process of 500 people by the end of 2020. I can only say how many people we will have to lay off in the second quarter, we are in the analysis process for now." Like most other companies operating in the travel industry, Lufthansa Swiss expects business travel to decrease from now on and companies to continue their meetings mostly through video conferencing. Noting that the $ 1.6 billion loan guarantee provided by the Swiss government is currently sufficient for the company, Vranckx stated that the flights are profitable for now and the cargo sector has grown significantly.       This article has the contributions of Bloomberg HT.