Revenue Loss Prompts US Airways to Slash 600 Jobs
Due to the current economic recession, some 600 airport employees of the US Airways will be booted out of their jobs.
The airline company said that they have to cut operations costs due to declining revenue.
The airline business is still feeling the heat of the economic recession as demand for business air travel was further trimmed down.
This, as the US Airways announced on Wednesday that it will be having job attrition to some 600 airport workers in order for them to save up to the high-operations costs.
In a statement, Airways Chief Operating Officer Robert Isom said that the job cut will directly affect the staff working in airports. The work force attrition will also be spread out in various departments in line with airport operations.
Isom said that it is necessary to evenly remove workers from their posts to ensure continues operation of the Airways without affecting its services.
The COO also said that at the present, the US Airways have more work forces than what the market demands.
US Airways was not the first airline company to cut jobs amidst economic recession. All over the world, the industry has downsized even its fleet size to keep operations running. Thousands of workers have already lost their jobs since the start of the recession as tourism and business class travel were the first to feel the recession.
Meanwhile, US Airways shares in the New York Stock Exchange has fall down by 1.42 percent on Wednesday and is expected to continue spiraling down until the end of the year.
Comment
Categories
- Franchise Opportunities
- Wholesale Business Opportunities
- Small Manufacturing Business
- Farming Business Ideas
- Unique Business Opportunities
- Shop Business Ideas
- Small Business Opportunities
- Startup Company Ideas
- Home Based Business Opportunity
- Rural Business Opportunities
- Tips for Buying and Selling
- Starting Rental Business
- Ideas for Small Business
- Free Business Ideas
- Internet Business Ideas
- Store Business Opportunities
- Entrepreneur Business Idea
- Retail Store Ideas
- Service Business Ideas
- Advice for Small Business
- Financing a Small Business
- Restaurant Business Opportunities
- Small Business Articles
- Business Marketing and Advertising
- Business News
- Repair Business Opportunity
- Professional Career Opportunities
- Business Insurance Information
- Instructor Guides
