Half of Virgin’s staff face axe

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Less that two weeks after Qantas announced that 6,000 jobs (20% of its workforce) would be cut, and a further 15,000 employees would remain stood down until further notice, Virgin Australia’s new owner, Bain Capital, is expected to axe around half of Virgin’s 9,000 strong workforce:

Pilots, crew and non-operational staff and workers at the now defunct TigerAir are facing the chop as Virgin’s new owner looks to downsize the domestic carrier.

The job losses are set to be formerly announced within the next fortnight.

About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.