Etihad Airways will be closing down jobs on their units to adapt on their slowing growth after expansion. Airline did to "reduce costs and improve productivity and revenue."
According to Bloomberg, the cutback already started a few weeks ago. The site reported that 1,000 to 3,000 jobs will be lost because of this cutback.
"Several dozen people have already left the information-technology department and reductions are also planned in the human resources and commercial sales units Cuts will also involve cabin crew and ground staff," they added.
The site explained that with job cuts Etihad Airways is changing its course. They explained that the company has tripled its staff in the past eight years.
"Its fleet expanded to 122 aircraft from 42. It employs 26,769 when including subsidiaries and employees abroad," the site stressed.
According to Reuters, Gulf carriers like Etihad Airways are struggling because of the drop in oil prices. This drop causes gulf carriers to cut back on their travelling expenses.
It has been reported that it us not just Etihad Airways that is experiencing a struggle because of the drop in oil prices Emirates Groups and Qatar Airways is also experiencing a decline. The Emirates Group had a 64 percent decline on their profits.
On the other hand, Qatar Airways, that the drop the demand for oil and gas are declining because of the drop in crude prices. It is speculated that the net income for airlines in the Middle East will drop by $300 million in 2017 from the $900 million drop its received this year.
This is unlike the telecommunication industries that Jobs & Hire previously reported. The site reported that telecommunication companies like BT in UK were hiring 500 additional customer service representatives. To date, there has been no reports on how many employees were lay-off because of the Eithad Airways cutbacks.
