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Healthcare

BRIEF-Portugal's TAP Temporarily Lays Off 90% Of Workers, Estimated 45% Reduction In Staff Costs

April 1 (Reuters) - TAP - Transportes Aereos Portugueses, S.A.:

* SAYS TO IMPLEMENT A TEMPORARY WORK SUSPENSION OF AROUND 90% OF ITS WORKERS AND A REDUCTION OF THE NORMAL WORKING PERIOD WITH THE PROPORTIONAL WAGE REDUCTION OF 20% FOR WORKERS REMAINING IN OPERATION

* THESE MEASURES WILL ENTER IN FORCE ON APRIL 2, 2020, FOR A 30-DAY PERIOD, CAN BE EXTENDED

* ESTIMATES THAT THE IMPLEMENTATION OF THESE MEASURES WILL REDUCE STAFF COSTS BY 45% THROUGHOUT THE APPLICABLE PERIOD

* FROM APRIL 1, 2020 AND UP TO, AT LEAST, MAY 4, 2020, TAP PLANS TO LIMIT ITS OPERATIONS BY FLYING ONLY TO TERCEIRA AND PONTA DELGADA (AZORES) AND TO FUNCHAL (MADEIRA), IN ORDER TO ENSURE TERRITORIAL CONTINUITY - WILL SUSPEND ALL REMAINING ROUTES

Source text: bit.ly/2WW25SN

Gdansk Newsroom

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