In the ongoing saga of Richard Branson’s Virgin Group, today Virgin Atlantic announced plans to cut a further 1,150 more jobs.
The news follows the completion of a £1.2bn rescue package that will secure its future for the next two years.
Virgin Atlantic had already cut more than 3,500 jobs out of the 10,000 employees it had at the beginning of the year – and the further cuts today have helped secure the remaining jobs for the next few months.
A statement from the firm read: “Until travel returns in greater numbers, survival is predicated on reducing costs further and continuing to preserve cash. The outlook for transatlantic flying, which is core to Virgin Atlantic’s business, remains uncertain with US-UK travel curtailed. Regrettably, the airline must go further one last time with changes at scale, to ensure it emerges from this crisis.”