El Al cuts 200 jobs in efficiency drive - Israel Business, Ynetnews
 
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El Al says will make  further organizational steps to lower its overhead Photo: Reuters
El Al says will make further organizational steps to lower its overhead Photo: Reuters
 
 

El Al cuts 200 jobs in efficiency drive

Israel's flag carrier says move aimed at improving its bottom line amid difficult time for global aviation industry

Reuters
Published: 02.22.13, 07:38 / Israel Business

El Al Israel Airlines says it is laying off 200 workers as part of an efficiency plan aimed at improving its bottom line amid a difficult time for the global aviation industry.

 

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The reductions of temporary and contract workers comes after Israel's flag carrier had cut its workforce by 126 people to 6,136 in the 12 months ended September 2012.

 

El Al did not specify how much it would save from the measure but said it would also make further organizational steps to lower its overhead.

 

"Due to the financial situation of the company, rising competition in the aviation sector, in Israel and in the world, and the difficulty in applying the current cost structure of the company, it was decided to take efficiency steps," El Al said last week.

 

El Al said it was continuing to negotiate with workers and its union to renew a labor contract and take the needed steps to streamline the company.

 

The airline posted a 79% rise in third-quarter profit to $37.4 million after recording losses in the first two quarters of 2012.

 

 

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