Dutch KLM group to cut 4,500-5,000 jobs due to coronavirus pandemic

Dutch carrier KLM said Friday it will cut between 4,500 and 5,000 jobs because of the coronavirus crisis.

The company said in a statement that in addition to 1,500 job losses, some 1,500 temporary contracts won't be renewed and 2,000 jobs will be suppressed via a voluntary departure scheme. The group also expects natural attrition through retirement" to help cut an extra 500 jobs.

KLM said it does not expect demand to fully recover before 2023 or 2024 and said further staff reductions are possible given the high level of uncertainty."

Earlier this month, the European Commission approved a bailout package of 3.4 billion euros ($4 billion) in loans offered by the Dutch government to help the company navigate the crisis.