By Joe Gerrard • 31 July 2019 • 17:06
RYANAIR boss Michael O’Leary has warned the airline will have to sack somewhere around 900 employees by next summer.
O’Leary claimed these cuts are unavoidable as there are 500 too many pilots and 400 too many cabin crew.
The expected turnover for 2020 that Ryanair set at the beginning of the year is currently nowhere near its target and just at the end of this last quarter they reported that profits had fallen by 21 per cent compared to last year’s figures.
O’Leary himself is taking a 50 per cent pay cut, around €1.1 million to almost €550,000 in a new 5 year contract but is expected to be paid handsomely in dividends from shares in the coming years if he is able to put the airline back on track.
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