Europe Airports News - Iberia to Cut 4500 Jobs in Company Re

09/11/12 Iberia to Cut 4500 Jobs in Company Re - Structuring

IAG, the group which owns both Iberia and British Airways, has announced today that Iberia is to cut it's workforce by 4500 and reduce it's fleet by 25 aircraft in a restructuring plan to return the airline to profit.
A statement from IAG said that Iberia is "burning 1.7 million Euros per day" and a deadline of the end of January 2013 has been given for agreement from the unions, otherwise further cuts in staff and capacity will be required to safeguard the jobs of remaining employees.

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