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GREEDY CAPITALIST-THE PROFIT GOES SO DO THE WORKERS. – THE BUSINESS CLOSES AND SO DOES ANY LOYALTY TO BRITAIN – BUT DOES HE KEEP THE “SIR”

Virgin Atlantic to cut 3,000 jobs and close Gatwick Airport operations as coronavirus hits

VIRGIN ATLANTIC has announced it will axe 3,000 jobs – over a third of its workforce – in response to the coronavirus pandemic.

PUBLISHED: 13:47, Tue, May 5, 2020 | UPDATED: 14:46, Tue, May 5, 2020

Virgin Atlantic set to announce it will cut 3,000 jobs

 
 
 

 

The major airline, owned by Sir Richard Branson, is to announce that it is cutting 3,000 jobs and is expected to close its operations at Gatwick Airport, Sky News reports. Virgin also plans to cut the size of its fleet from 43 aircrafts to 36 by the summer of 2022. The company is anticipating that customer demand will be at least 40 percent lower during 2020, with only a gradual recovery next year.

 

Trade unions and staff were being briefed on the redundancies by CEO Shai Weiss on Tuesday lunchtime, followed by an external statement.

The company said on its website: “Virgin Atlantic has announced plans to reshape and resize its business to ensure that is it fit for the future, in response to the severe impact of the COVID-19 pandemic on the global economy, our nation and the travel and aviation industry…

“Uncertainty around when flying will resume, coupled with unprecedented market conditions brought on by the pandemic, has severely reduced revenues for the global aviation industry and Virgin Atlantic.

 
 

“Accordingly, the airline has taken decisive action to reduce costs, preserve cash and to protect as many jobs as possible.”

virgin atlantic job cuts

Virgin Atlantic is to cut 3,000 jobs (Image: Getty)

virgin atlantic job cuts coronavirus

Virgin Atlantic will reduce its fleet by seven (Image: Getty)

Virgin said they plan to axe 3,150 jobs under the new plans.

The company currently has 10,000 UK staff and operates from Gatwick, Heathrow and Manchester Airports.

Shai Weiss, CEO, Virgin Atlantic commented: “We have weathered many storms since our first flight 36 years ago, but none has been as devastating as COVID-19 and the associated loss of life and livelihood for so many.

“However, to safeguard our future and emerge a sustainably profitable business, now is the time for further action to reduce our costs, preserve cash and to protect as many jobs as possible. It is crucial that we return to profitability in 2021.

JUST IN: Coronavirus map LIVE: UK death toll now highest in Europe – 436 new

richard branson virgin atlantic

Richard Branson has asked the Government for financial support (Image: Getty)

“This will mean taking steps to reshape and resize Virgin Atlantic in line with demand, while always keeping our people and customers at the heart of all we do.

“I wish it was not the case, but we will have to reduce the number of people we employ. The commitment of our people throughout this crisis has been nothing but amazing, and the embodiment of true Virgin spirit.

“As we have navigated the Covid-19 crisis, I have been humbled at every step by their solidarity. In times of adversity we must support each other so that ultimately, we can emerge a stronger and better Virgin Atlantic.”

Mr Branson had previously pleaded with the Government for a £500million financial support, as the coronavirus pandemic grounded flights. 

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