March 23, 2020 / 9:44 AM / 18 days ago

Icelandair cuts 240 staff, reduces management pay

COPENHAGEN, March 23 (Reuters) - Icelandair said on Monday it will cut 240 jobs, move 92% of remaining staff to part-time employment and cut management pay in a move to absorb the effect of the coronavirus outbreak on its business.

“These measures limit the number of layoffs and positively impact the company’s cash flow in the short-term,” Icelandair said in a statement. (Reporting by Jacob Gronholt-Pedersen, editing by Louise Heavens)

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