Virgin Atlantic is to cut 1,150 more jobs in order to survive

Virgin Atlantic is to cut 1,150 more jobs in order to survive Even though Virgin Atlantic airlines had already cut more than 3,500 jobs out of the 10,000 employees it had at the beginning of the year, it said in a report that it is going to cut 1,150 more jobs after completing a £1.2bn rescue plan that will secure its future for at least 18 months. Virgin finds itself more exposed than many of its rivals, because it relies heavily on transatlantic traffic - and restrictions on travel to the US remain in force. "The outlook for transatlantic flying, which is core to Virgin Atlantic's business, remains uncertain with US-UK travel curtailed," the airline said. "Until travel returns in greater numbers, survival is predicated on reducing costs further and continuing to preserve cash," it added. The past six months had been the most challenging in Virgin Atlantic's history. It said "regrettably the airline must go further one last time with changes at scale, to ensure it emerges from this crisis" The carrier added that a 45-day consultation period would begin on Friday with unions. The company is hoping its £1.2bn rescue plan will enable it to ride out the storm. But to succeed, it still needs to turn itself into a much smaller business than it was just a few months ago. To try to cut down on crew redundancies, it said it would introduce a voluntary, company-financed furlough scheme for 600 crew members when the government-backed scheme ends in October.   You might also be interested in:

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