Business
Airbus to cut 15,000 jobs to survive coronavirus crisis
TOULOUSE, France/PARIS (Reuters) – Airbus is cutting 15,000 jobs within a year, including 900 already earmarked in Germany, saying its future is at stake after the coronavirus outbreak paralysed air travel.
Airbus is moving swiftly to counter damage caused by a 40% slump in its 55-billion-euro ($61.8 billion) jet business following the pandemic, balancing belt-tightening against aid offered by European governments and future priorities.
But it faces tough talks with governments as well as unions, which immediately pledged to fight compulsory redundancies. A 2008 restructuring triggered rare strikes and protests.
“It’s going to be a mighty battle to save jobs,” said Francoise Vallin of the CFE-CGC union.
Europe’s biggest aerospace group said it would cut 5,000 posts in France, 5,100 in Germany, 900 in Spain, 1,700 in the UK, and 1,300 elsewhere by mid-2021, for a core total of 14,000.
The broader tally includes another 900 job cuts planned before the crisis at its Premium AEROTEC unit in Germany.
On June 3, Reuters reported reduced jet output pointed to cuts of 14,000 full-time posts. Earlier on Tuesday, French union sources predicted 15,000 cuts in total.
Britain’s Unite union called the measures “industrial vandalism.” France’s hard-left Force Ouvriere union and others said they would oppose mandatory cuts.
There was immediate political pushback in France, where the government of President Emmanuel Macron this month announced a 15-billion-euro support package for aviation.
“The number of job cuts announced by Airbus is excessive. We expect Airbus to fully use instruments put in place by the government to reduce job cuts,” a finance ministry source said.
Airbus refused to exclude sackings, but said it would first seek voluntary departures, early retirements and other measures. It wants to start implementing cuts this autumn and complete them next summer – a brisk deadline for such plans in Europe.
Chief Executive Guillaume Faury said the company had been left with no choice by the dire industry crisis.
“It is the reality we have to face and we are trying to give a long-term perspective to Airbus,” he told reporters.
Production outlook
Airbus said in April it was reducing output by a third, but has raised that to 40% as it presses the case for job cuts. Sources say the discrepancy reflects different ways of measuring output on a weighted basis, rather than an immediate new cut.
“We think we are rather stable now and there will be minor adjustments as we have in normal times,” Faury told Reuters.
But he added, “minor changes can be bigger than seen in past because there is more volatility in the market.”
Exceptional secrecy had surrounded the politically sensitive restructuring affecting jobs in Britain, France, Germany and Spain, the company’s key backers in a fierce contest with U.S. rival Boeing for orders and industrial clout.
About 37% of the 135,000-strong Airbus workforce is due to retire this decade, led by veterans of its best-selling A320.
Boeing is cutting over 12,000 U.S. jobs, including 6,770 involuntary layoffs, after the pandemic compounded woes caused by the 15-month-old grounding of its 737 MAX.
Airbus’ programmes chief said it was slowing a push into after-sales services while maintaining a strategy of diversifying into the high-margin area.
Some industry sources say Airbus has all but abandoned a goal of more than doubling services revenue to $10 billion this decade and transferred some staff to other roles.
Reporting and photo: Reuters
Business
Waste Management Corporation (WAMCO) Marks a Significant Step Towards Transforming Urban Waste Management
Waste Management Corporation (WAMCO) marked a significant step towards plastic waste management with the adoption of dedicated vehicles handed over to boost this transformation of urban waste management supported by The Coca-Cola Foundation (TCCF) and the United Nations Development Programme (UNDP) in the Maldives.
In March 2024, UNDP Maldives officially handed over a fleet of six vehicles to WAMCO, which included two electric vehicles (EVs), as part of an initiative aimed at enhancing waste management across the Greater Male’ Area (GMA). This acquisition, facilitated through the financial support of TCCF paves the way for a crucial advancement in bolstering PET collection efforts and tackling the challenge of plastic waste in the Maldives.
“This initiative marks a significant step towards boosting recycling rates and combating environmental pollution in the Maldives,” stated Pek Chuan Gan, Deputy Resident Representative of UNDP Maldives speaking at the handover ceremony. “Integrating electric vehicles into WAMCO’s fleet and improving PET recycling processes not only lowers carbon emissions but also pioneers renewable energy use in waste management. It’s a vital move for steering the Maldives towards a sustainable and renewable-powered future.”
The provision of electric vehicles marks a continuation of UNDP Maldives’ support to the Government’s vision to introduce renewable energy in key sectors such as waste management that significantly contribute to the country’s renewable energy transition ambition. By embracing clean energy solutions, such as electric vehicles in waste management practices, the Maldives can further reduce its carbon footprint and move closer to achieving its renewable energy goals.
“Utilizing eco-friendly vehicles is a pivotal change for WAMCO, signifying a major leap towards modernizing waste management in the Maldives,” remarked Mujthaba Jaleel, Managing Director, from WAMCO. “This collaboration highlights the shared commitment to environmental stewardship and the potential for such partnerships to catalyse meaningful progress in sustainability and about the positive impact these vehicles will have on our operations and the environment.”
Representatives from UNDP Maldives, WAMCO, and The Coca-Cola Foundation’s unified efforts towards a sustainable future. Photo courtesy: CIAO Advertising.
“Our commitment goes beyond just recycling; it’s about fostering a culture of sustainability,” remarked Saadia Madsbjerg, President, Coca‑Cola Foundation and VP Community Affairs. “By enhancing waste management in the Maldives, we aspire to set a benchmark for environmental stewardship.”
For The Coca-Cola Foundation, together with the stakeholders, the aim is to propel Maldives towards a future where plastic circularity is not just envisioned but actively pursued. By channelling resources and expertise into the heart of waste management, TCCF has made a sizeable contribution in enhancing and attracting investment to this crucial sector in the Maldives. This initiative is a testament to TCCF’s commitment to fostering sustainable practices and promoting the reuse and recycling of plastics, thereby reducing environmental impact, and paving the way for a circular economy.
The fleet handover event held on March 18, 2024, served as a celebration of collaboration in waste management. Representatives from UNDP Maldives, WAMCO, The Coca-Cola Foundation, government officials, and stakeholders came together to mark this significant step and reinforced their collective dedication to building a more sustainable future for the Maldives.
Coca-Cola is thrilled to unveil its official partnership with UEFA EURO 2024TM, launching an engaging promotional campaign designed to give football enthusiasts across the Maldives the extraordinary opportunity to experience the Finals live in Berlin, Germany.
This season, Coca-Cola reintroduces its iconic football-themed packaging, igniting excitement on store shelves. To join the promotion, customers need to simply open the promotional pack, find the six-digit code under the Cap (for PET bottles) or Tab (for Cans) and enter the giveaway by sending the code to 2626, with chances of winning increasing every time they send a code! Available in a variety of sizes, these packs ensure that every fan has a chance to participate.
During the promotion, six (06) couples will win a trip to experience the UEFA EURO 2024TM Final Match in Berlin, Germany with great Coca-Cola hospitality — an integral part of Coca-Cola’s initiative to deepen its connection with football fans and infuse the season with refreshing excitement. Consumers will also have a chance to win a Smartphone which is to be won every other day and branded Premia daily making it a power-packed promo.
The promotional campaign will span from May 1st to June 15th, 2024. Throughout this period, lucky draws will be conducted every other day and broadcast live on ICE TV, with the first Live Draw starting on the 11th of May 2024.
Kaushali Kusumapala, Country Director – Coca-Cola Maldives and Sri Lanka, is enthusiastic about the new partnership, stating, ” This partnership with UEFA EURO 2024TM, marks a milestone in our commitment to sports and entertainment. We’re excited to offer fans unique opportunities that showcase our dedication to enriching their experience of the tournament, one refreshing sip at a time.”.
As the tournament draws nearer, Coca-Cola will announce further exciting activities under its UEFA EURO 2024TM campaign. Fans are invited to stay engaged and participate in the ongoing promotions to enhance their chances of witnessing the zenith of European football live.
Grab a Coke, gather with friends and family, watch the UEFA EURO 2024TM matches live, and stand the chance of winning many fabulous prizes! Stay tuned to the official Coca-Cola Maldives Facebook and Instagram pages for the latest UEFA EURO 2024TM updates and promotions.
Coca-Cola has been a partner of every UEFA European Football Championship since 1988, and for more than three decades, Coca-Cola has played an essential role in the competition by uniting people and providing fans with unforgettable and innovative experiences.
The Maldives Association of Tourism Industry (MATI) held its 34th Annual General Meeting at Kurumba Maldives today, with a total of 100 members in attendance.
The day’s events began with a welcome address from the Chairman of MATI, Mr. Mohamed Umar, who also presided over the session. The agenda included an address from the Secretary General, Mr. Ahmed Nazeer, the review and approval of the minutes of the 33rd AGM, the review and adoption of the Annual Report and Financial Reports for 2023, the approval of the 2024 budget, the appointment of auditors for 2024, the welcoming of new members and election of executive board members to the two vacant positions (by-election).
In the member discussion session, the following topics were covered: the Government’s aim to reach net-zero emissions by 2023 and renewable energy generation in the Tourism Industry, new terminal of Velana International Airport and developments, employment challenges, the Industrial Relations Act and trade unions, environmental conservation and the significance of creating and executing efficient management plans for protected areas like the South Ari Marine Protected Area (SAMPA).
Following the official proceedings, the Minister of Tourism Hon. Ibrahim Faisal and the Minister of Economic Development and Trade Hon. Mohamed Saeed joined the forum. The Ministers provided remarks and engaged in a Member Q&A session. This session provided members with the chance to directly engage with the Ministers and delve into crucial industry topics. The queries focused on the Economic Outlook, forthcoming development plans and immediate challenges and issues affecting the Tourism Industry.
A video presentation was also showcased that delved into the extensive work undertaken by MATI in 2023. The video also touched upon the Tourism Industry’s performance over the past 5 years, as well as the current and projected human resource capacity of the sector.
In his closing remarks, the Secretary General highlighted the importance of collaborative efforts in addressing industry challenges and called for greater unison amongst industry stakeholders, ending with an acknowledgement of the promising start to the year in terms of arrivals.
Executive Board Members elected to the 2 vacant positions (by-election):
- Ibrahim Shareef, CEO and Managing Director of Maldives Airports Company Limited
- Renato De Olivera, General Manager of The Ritz-Carlton Maldives, Fari Islands and representative of Marriott International
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