MADRID Nov 7 A restructuring plan that could
see up to 7,000 job losses will be revealed by Spanish airline
Iberia at a meeting with labour unions on Friday, union sources
said on Wednesday.
Business at Iberia, part of International Airlines Group
together with British Airways, has been hit by
recession and high unemployment in Spain, which remains at the
centre of the euro zone sovereign debt crisis.
"We have been summoned for Friday and the only thing we know
is that they want to announce a massive staff layoff plan," said
a spokesman at CTA, the union for land-staff personnel for
Iberia, which has some 20,000 employees.
Unions have been expecting layoffs for months of between
4,000 and 7,000 workers due to the ongoing effects of Spain's
recession and the progressive shifting of its short to medium
distance flight routes to its low cost carrier Iberia Express.
In the first half of the year, Iberia reported an operating
net loss of 263 million euros ($336.68 million). Iberia
executives have said in the past they would announce a
restructuring plan after the summer.
Iberia did not want to make any official comment but union
sources said the company's board would meet on Wednesday to
analyse both staff layoff plans and nine-month results.
"It's possible that some information could be leaked during
this meeting," a union source said.
Iberia's parent IAG is due to present nine-month results and
host an investor's day in London on Friday, which is a bank
holiday in Madrid. ($1 = 0.7812 euros)