Job loss fears over IAG’s takeover of BMI
24.12.11
Hundreds of jobs could be lost with the takeover of BMI by the owner of British Airways, an industry expert has warned. International Airlines Group (IAG) announced a £172.5 million deal to buy the troubled East Midlands based airline from Germany's Lufthansa this week. IAG chief executive Willie Walsh warned jobs would be cut over the next three years.
The loss-making company employs 3800 people, including 1000 at East Midlands Airport and its headquarters nearby. Mr Walsh warned: ‘Given the scale of BMI's losses, there is an urgent need to restructure the business. Unfortunately, this will mean some job losses but we will secure a significant number of high-quality jobs here in the UK.’
Professor Jim Saker, associate dean at Loughborough Business School, told a local newspaper: ‘If Willie Walsh is talking about job cuts at this early stage, then it's going to be big numbers. We are talking about hundreds of job losses. IAG doesn't need an extra head office, and they are not going to relocate all the jobs. Many of them will just go.’
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