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CX Expects to Slow Growth This Yr, Plans Cost-saving Measures Like Layoffs: Rumor
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CATHAY PAC AIR (00293.HK) anticipated its growth rate this year to drop to single digits for the first time since the pandemic, Bloomberg quoted sources as saying. CATHAY PAC AIR has instructed all departments to find ways to cut costs and improve efficiency to further control expenses. It is reported that CATHAY PAC AIR planned to save about 5% of costs in non-operational staff and reduce expenses at headquarters in areas like marketing and administration, partly to make room for investments in AI and other areas. As part of the restructuring, some departments and positions will be merged, while some employees will be reassigned, with a limited number of job cuts for Hong Kong and overseas staff. AAStocks Financial News Website: www.aastocks.com |
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