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Qantas silent on cuts report

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Qantas is refusing to confirm or deny reports the financially troubled airline will axe up to 5,000 jobs as part of its efforts to find $2 billion in savings.

The airline is said to be preparing to announce deeper job cuts than previously flagged when it unveils its half year results on Thursday which are expected to reveal a $300 million loss.

Qantas could also announce plans to axe up to 5,000 workers, well above the 2,000 jobs losses previously indicated, with 1,500 of those jobs expected to come from the company’s executive and support divisions, News Corp Australia reported on Tuesday.

The media group also said Qantas was looking to sell its Melbourne Airport and Brisbane Airport leases.

“There is fresh speculation about what things we will or won’t announce on Thursday as part of our half year results,” Qantas said in a statement.

“We are not in a position to comment on that speculation.”

But the airline acknowledged it would be making some “tough decisions” as part of a cost-cutting program.

“We have said that we will be making some tough decisions in order to achieve $2 billion in cost savings over the next three years, which is a consequence of an unprecedented set of market conditions now facing Qantas,” it said.

Qantas has been lobbying the federal government for assistance, most likely in the form of a debt guarantee.

 

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