KLM airline announces restructuring affecting 5,000 jobs

KLM announced a restructuring plan affecting 5,000 jobs, reducing its workforce by 15% to cut costs. CEO Marjan Rintel emphasized the necessity of drastic measures due to rising fuel prices and operational costs. The changes will involve voluntary departures and internal reallocations, with some jobs being outsourced. Despite a profit increase in Q3, KLM believes these measures are essential for long-term sustainability and aims for an operational profit of 1 to 1.4 billion euros annually. The plan includes fleet renewal and operational simplification to enhance competitiveness within the Air France-KLM group.