Lufthansa agrees €200M in cost cuts with union

Wednesday, 11. November 2020 19:23

Deutsche Lufthansa AG announced on Wednesday it reached an agreement with the ver.di union to reduce its operation costs by €200 million in return for pausing any potential layoffs until 2021.

The measures include the cancelation of the Christmas and vacation bonuses, and the continuation of short-time work with a 3% compensation decrease.

"With this crisis package, we have taken a first important step towards reducing ground staff personnel costs and can avoid forced redundancies for 2021. However, we cannot slow down our efforts in continuing to work on crisis management measures in order to agree on good solutions for employees after short-time work ends," executive Michael Niggemann said in the press release.

Related Links: Deutsche Lufthansa AG
Author:
Breaking the News / MD