Copenhagen Airport plans to cut 650 full-time jobs,

Copenhagen Airport plans to cut 650 full-time jobs,

Copenhagen Airport (CPH) is considering cutting 650 full-time jobs from the existing estimated number of 2,600 in order to secure long-term competitive strength.

Thomas Woldbye, CEO of Copenhagen Airport, said this was the saddest decision he had to make during his nine years with CPH, but that it was important in order to safeguard the future operations and financial position of the airport.

During the recession, CPH had an aim of holding as much operation and maintaining as many workers as possible. For instance, the wage compensation system negotiated by the Danish government and the parties to the labor market was used by CPH. Almost 2,200 workers were temporarily furloughed and called back to work in rotation, corresponding to 1,600 full-time equivalents (FTEs), which helped CPH maintain the expertise of its employees and their association with the airport.

However, it has now become apparent that because of the coronavirus, the aviation industry will face a long-term crisis, while the wage reimbursement program will soon be phased out. The current cost of maintaining the airport running is considerably higher than the production of minimal monthly revenue. For the first six months of 2020, CPH incurred a gross pre-tax loss of DKK 227.9 million, and an even greater loss is anticipated in the second half of the year. Therefore, CPH management claims that the only responsible approach is to align the organization with the lower level of operation.

We need to plan for a reduced period of operation so that we can remain, as an airport, a competitive and attractive hub in northern Europe. In order to promote growth and jobs in Denmark, we must be able to attract and maintain roads. In addition, it is absolutely essential that we continue to work on and achieve our high ambitions to contribute to Danish aviation's required green transformation,' said Woldbye.

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