Alitalia Reportedly to Cut 5,000 Jobs
Posted on: Monday, 6 September 2004, 06:00 CDT
ROME - Italy's flagship air carrier Alitalia plans to cut 5,000 jobs as part of restructuring efforts aimed at averting collapse, news reports and an industry source said Monday.
The cuts are almost a fourth of Alitalia's 22,000-strong workforce.
ANSA and other news reports cited union sources. An industry source confirmed the reports.
Alitalia was meeting with union leaders at the company's headquarters in Rome to discuss the restructuring plan.
The approval of the recovery plan is crucial to the company's survival as it would allow Alitalia to access a $488 million loan approved by the Italian government and the European Union.
Without the loan, Alitalia says it has enough liquidity to pay salaries only until the end of this month.
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