Automotive

VW weighs staff reductions as electric shift stalls

German car giant Volkswagen on Monday said that it was considering staff reductions, possibly in the form of early retirement, to help it meet vital cost-cutting targets imposed in its sputtering transition to electromobility.

Business

American Airlines warns of as many as 13,000 layoffs

American Airlines will notify 13,000 workers that they could be laid off due to the prolonged industry downturn if the Covid-19 situation doesn't improve and US government aid is not extended, the carrier said Wednesday.

Business

Lufthansa ground staff agree deal to avoid layoffs

Ground crew at Germany's beleaguered airline giant Lufthansa have agreed to a 200-million-euro ($240 million) cut in personnel costs in exchange for avoiding forced redundancies until March 2022, trade union Verdi said Monday.

Business

US airlines to end year with 90,000 fewer workers

Hit with a collapse of demand, US airlines will end the year with the lowest number of workers since at least 1987, 90,000 fewer than when Covid-19 hit, an industry federation said Thursday.

Business

American Airlines reports $2.4 bln loss in Q3

American Airlines announced Thursday that its earnings plunged 73 percent in the third quarter amid the collapse in air travel during the coronavirus pandemic, causing a loss of $2.4 billion, which was not as bad as analysts ...

Business

United plans to furlough 16,000 workers, fewer than expected

United Airlines said Wednesday it plans to furlough 16,370 employees in October, a smaller number than the airline predicted in July because thousands of workers agreed to leave with the travel industry facing a slow recovery ...

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