Virgin Atlantic to Cut 500 Support, Managerial Jobs



Virgin Atlantic CEO Craig Kreeger, center; Wayne County Airport Authority CEO Thomas Naughton, left; and Sir Richard Branson, founder and president of Virgin Atlantic Airways, at a news conference on June 11 about the launch of Virgin Atlantic services between Detroit and London.
            Photo: Associated Press       

Virgin Atlantic Airways Ltd. has  said it would cut about 500 support and managerial jobs as the carrier founded by Richard Branson seeks to become more financially resilient. According to a recent report by the Wall Street journal,the jobs cuts are set to be implemented by the end of the year through layoffs, by moving staff, or not filling vacancies, the carrier based in Crawley, southern England said in a statement.

“To truly position Virgin Atlantic for long-term and sustained success, we need to be a more efficient and agile organization that has the ability to invest even more in the areas that make Virgin Atlantic’s customer experience unique,” Chief Executive Craig Kreeger said.

Virgin Atlantic in March said that it made a £14.4 million ($23 million) profit before tax and one-time items in 2014 and ended a three-year period of losses. The carrier had a £51 million loss in 2013 when it set the goal of returning to profit. Virgin Atlantic sales were little changed last year at £2.9 billion.
 source: www.wsj.com