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Employment News

Philippine Airlines To Lay Off Workers


Date Posted: Sep 2, 2009

The country’s flag carrier, Philippine Airlines (PAL) announced its decision to reduce its workforce by offering early retirement to their old employees due to severe financial loss.

More than USD301 million losses were declared by PAL due to the ongoing financial turmoil in the country and the increase in the amount needed for the airline’s maintenance.

The company has more than 8,000 employees nationwide, but they refused to elaborate how many will get early retirement. However, the PAL assures that employees who will be affected will receive the full benefits as required by the law.

Although PAL’s revenue increased from USD1.504 billion to USD1.634 billion last year due to the 17 percent increase of passengers, the airline company suffered big time with the increase of maintenance and fuel expenses that raise up to USD1.9 billion.

"We want to make PAL lean and mean so it will be agile and flexible enough to adapt to the new economic climate," says PAL president Jaime J. Bautista.

‘The airline will continue to meet increasing passenger demand especially for the domestic market and is eyeing new charter or regular destinations,” he added

Despite the cut-off, PAL will still acquire new Boeing 777-30ER and in the final refurnishing of wider aircraft complete with more comfortable seat and state of the art entertainment systems.

 

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