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Philippine Airlines sheds 300 employees after reports of new losses
March 6th 2020
Philippine Airlines (PAL) said it had cut 300 jobs from its payroll in the wake of the COVID-19 outbreak. Read More » The airline had “completed implementation of a voluntary separation initiative for long-serving employees and a retrenchment process” of ground-based administrative and management staff, PAL said.
“Other initiatives include revenue generation from an optimised route network, new ancillary products, more aggressive cost management efforts and investment in digital technology,” PAL said.
The airline's parent, PAL Holdings, has yet to release its financial results, but on Monday the company confirmed media reports the airline had slumped to a net loss of 10.6 billion pesos (US$209 million) in calendar 2019. It was the firm's third consecutive year in the red.
