Aviation companies agency John Menzies has introduced it has reduce a lot more than 17,500 employment throughout the world as it struggles to deal with the important slump in air journey brought on by the coronavirus outbreak.
The Edinburgh-dependent business claimed the go was part of a major hard work to lower charges.
The job losses symbolize additional than fifty percent the group’s full workforce.
Menzies delivers fuelling, ground handling and cargo managing solutions at 200 airports.
The corporation reported its international and domestic airline customers experienced been grounding passenger flights “on an unprecedented scale”.
The amount of flights handled in the previous two months has fallen by a lot more than 60%, while volumes in the cargo sector have dropped by about 20%.
In a investing update, the company mentioned those people who had shed their employment have been currently being supported in some nations around the world by governmental techniques and it hoped that “in the fullness of time a significant variety of these staff members can return to the organization”.
Menzies also uncovered that it was attempting to safe some of the emergency funding for companies announced this week by the chancellor of the exchequer and was at this time engaged in “constructive conversations” with its lending financial institutions.
As element of its price tag reducing steps, all of the firm’s directors and senior administration have now taken a 20% shell out lower.
Chief govt Giles Wilson claimed: “John Menzies plc has existed considering that 1833 and been mentioned considering the fact that 1962 but never ever have we confronted such hard and unpredictable periods.
“Our market has been a person of the most influenced by Covid-19 and we are undertaking everything we can to minimize fees although searching immediately after the needs of our personnel.”