Eu Portugal city Lisbon covid-19 pandemic Government Eu Portugal city Lisbon

Heavy job cuts in $4.1 bln rescue plan for Portugal airline

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LISBON – Portugal’s government unveiled Friday a 3.4 billion-euro ($4.1 billion) rescue package for national airline TAP Air Portugal that entails more than 3,500 job losses — around one-third of the workforce.The plan, which requires the blessing of European Union authorities, also foresees a payroll cut of up to 25% by lowering wages.If approved, 500 pilots, 750 cabin crew and 750 ground crew will be laid off.

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