Cathay Pacific confirms workforce lay-offs

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Cathay Pacific has confirmed plans to push ahead with staff redundancies.

The move follows a 2016 described by chief executive Ivan Chu as one characterised by weak sales and declining demand – despite growth in its cargo division of 3% in 2016.

CH Aviation reported that Mr Chu had conceded the “very tough” operating environment – which he expected to impact the carrier over the long-term – had forced Cathay to draw up a restructuring plan and confirmed a staff reduction exercise, ...