Lufthansa said Monday it will cut 4,000 jobs, nearly four per cent of the German airline giant鈥檚 workforce, after profits slumped in the face of mounting headwinds.
Hit by walkouts, aircraft delivery delays and rising costs, Lufthansa鈥檚 earnings tumbled by a fifth in 2024 and profitability has fallen behind its leading European rivals.
The news comes against a bleak backdrop for Europe鈥檚 biggest economy, which is struggling to recover from a long downturn that is weighing on many of Germany鈥檚 leading companies.
The job cuts, to be carried out by 2030, will mostly be in Germany, targeting administrative roles rather than jobs such as pilots and cabin crew.