Chinese giant HNA to axe 100,000 jobs; a quarter of its workforce

© Piotr Trojanowski

Anyone that plays Monopoly regularly knows that splurging all your money in one go never works – the returns are too low and then you get hit with maintenance costs. China’s HNA Group appears to be learning that lesson for real; the South China Morning Post reporting the company is gearing up to axe 100,000 jobs, after after spending tens of billions of dollars buying up global assets, from Manhattan buildings to hotels.

Fortunately, it appears that its aviation businesses, which include ...