By Jamie Freed. HK said on Wednesday it welcomed all employee ideas to get it through the pandemic after pilots pushing to be included in restructuring talks ran a newspaper advertisement to drum up public support. Cathay declined to comment. We have to do this to protect as many jobs as possible, and meet our responsibilities to the Hong Kong aviation hub and our customers.
We are deeply saddened to part ways with our talented and respected colleagues, and I want to thank them for their hard work, achievements and dedication. Cathay Pacific will be offering severance packages that go well beyond statutory requirements. It will also be extending medical benefits and staff travel entitlements, as well as providing counselling and job transition support services. There will be no offset against pension contributions.
We have scaled back capacity to match demand, deferred new aircraft deliveries, suspended non-essential spend, implemented a recruitment freeze, executive pay cuts and two rounds of Special Leave Schemes. This is simply unsustainable. Even so, it is quite clear now recovery is going to be slow. Cathay says it has already tried to cut costs by deferring aircraft deliveries, implementing special leave schemes and cutting executive pay. Of the 8, positions that will be eliminated, 5, jobs will be from Hong Kong and a further from overseas.
A total of 2, of positions are currently unfilled because of a hiring freeze and the closure of some overseas operations. Cathay said this week that it expects to run at half capacity through next year. Cathay Dragon, originally operated as Dragonair, when it was established in
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