3Novices:Cathay Pacific takes a HK$300m hit in redundancy payouts for 600 staff

Cathay Pacific Airways will take a one-off hit of HK$300 million in redundancy payments as it slashes expenses in a major restructuring exercise to reverse losses.
Hong Kong’s flagship airline disclosed the huge cost at a meeting last Friday with analysts from financial institutions and research firms.
Six hundred people have been laid off since last month, part of a three-year transformation of the business after the company lost HK$575 million last year.
Cathay Pacific and Japan…
June 19, 2017 at 03:30PM
#3Novices #News #OnlineMedia #China 3Novices China


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