HONG KONG (AP) – Cathay Pacific Airways said Monday it’s laying off nearly 600 staff at its headquarters in its biggest round of firings in two decades as it faces rising competition from rival carriers and tough business conditions.
The Hong Kong airline said it plans to axe about 190 managers, or a quarter of all the company’s management jobs.
It’s also eliminating the jobs of 400 workers in non-managerial roles.
Cathay said in a statement that frontline workers, including pilots and cabin crew, would not be affected, but “will also be asked to deliver greater efficiencies and productivity.”
Hong Kong’s largest airline is making its most sweeping overhaul since 1998, when it slashed nearly 800 jobs amid the Asian financial crisis.