Air France has announced plans to cut around 10% of its total workforce, or just over 5,000 jobs, by the end of 2013. The move forms part of a restructuring plan for the ailing company to reduce costs and return to growth.
Air France believes that it will be able to avoid compulsory redundancies through natural turnover – possibly amounting to some 1,700 jobs – as well as voluntary redundancies. Following the announcement, the share price of its parent company Air France-KLM rocketed 6%.
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