[Peakoil] the economic chaos begins...

[Jenny Goldie]

[from news.com.au]
Fuel costs to claim 1000 jobs
From: AAP 

May 18, 2006 

QANTAS will reportedly axe another 1000 white-collar jobs this year as the company faces a looming $1 billion surge in its annual fuel bill.

Chief executive Geoff Dixon informed staff of the latest job cuts in a message yesterday, according to newspaper reports today. 
The market was yet to be given details, the Fairfax papers said. 

The cuts should deliver tens of millions of dollars in savings. 

Mr Dixon told staff the airline had "reluctantly" decided to cut management, support and administration positions by 20 per cent across the group, resulting in a reduction of about 1000 positions in the first half of the 2006-07 financial year. 

"We have proposed and grown through previous crises in our industry by changing our cost base and this is again necessary," he was quoted as saying. 

The announcement coincides with an annual review this week by the Qantas board of the airline's three-year strategy. 

The massive increase in the cost of jet fuel was a key concern in the board's considerations, Mr Dixon said. 

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