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Lufthansa's cargo unit to cut 700-800 jobs worldwide

Published 06/10/2016, 11:00 AM
Updated 06/10/2016, 11:10 AM
© Reuters. Two Soviet-made Yakovlev Yak-52 planes perform during a demonstration flight above a McDonnell-Douglas MD-11 jet of Lufthansa Cargo AG parked on the tarmac, at Yemelyanovo International Airport, outside the Siberian city of Krasnoyarsk
LHAG
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FRANKFURT (Reuters) - German airline Lufthansa's (DE:LHAG) cargo unit said on Friday it will cut up to 800 jobs, out of a worldwide workforce of around 4,600, in response to an industry downturn, saying it needed to cut costs to remain competitive.

© Reuters. Two Soviet-made Yakovlev Yak-52 planes perform during a demonstration flight above a McDonnell-Douglas MD-11 jet of Lufthansa Cargo AG parked on the tarmac, at Yemelyanovo International Airport, outside the Siberian city of Krasnoyarsk

Lufthansa Cargo said it would cut 700-800 jobs, up to 500 of them in Germany, under a plan to cut costs by 80 million euros ($90 million) a year.

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