Cathay Pacific board expected to back ambitious revamp requiring job cuts within days



Cathay Pacific’s board of directors is expected to back a restructuring plan early this week that includes staff redundancies and pay cuts in a bid to keep Hong Kong’s flag carrier afloat, the Post has learned.Employees will learn their fate before Friday but the Hong Kong government, which extended an economic lifeline to Cathay in June, is trying to pressure the company to offer more generous exit packages to the laid-off workers, according to multiple sources.The restructuring comes after a…

Source link

Leave a comment