VANTAA – Latest in the news of global companies being affected by the economic crisis is Finnair, the largest airline company of Finland.
The company founded in the 1920’s is the fifth oldest airline in the world and holds a good reputation globally. Finnair has not had any fatal accidents since the 1960’s and is amongst one of the safest airlines in the world.
However, the company, amongst many others, has not been able to avoid the consequences of the economic crisis and has been recently in the news for its continuous layoffs.
According to the largest subscription newspaper in Finland, Helsingin Sanomat, the airline is about to begin negotiating the layoffs of approximately 20 employees.
Also, it has been said that the company will cut costs by moving some of its jobs to Estonia.
Finnair took drastic action against the economic crisis in 2011 and the layoffs have continued ever since.
In 2011, Finnair laid off around 450 people from its tech department alone.
Again, at the end of 2012 the company was in the middle of negotiations of having to let go 25 employees and making 30 of their employees part-timers.
Layoffs and other cost cutting changes are expected to go through for few more years. The airline has a saving plan which is planned to last all the way to the year 2015.
The former president and CEO of Finnair, Mika Vehvilainen, has resigned after holding a challenging position at the company for four years. Whoever his successor will be, it is sure that they will have their hands full with trying to bring Finnair back to its former glory.
Image Courtesy: By Photograph by Arcturus Modified by JuergenL (Self-published work by Arcturus), via Wikimedia Commons