Economy

Air Canada to cut workforce by up to 60% due to coronavirus

Air Canada to cut workforce by up to 60% due to coronavirus”

The company says it has contacted the unions to implement the layoffs, which will take effect in early June.

Air Canada says it's been forced to keep around 225 planes on the ground and reduce its schedule by 95 per cent.

When asked by reporters about a potential bailout of the airline industry by the federal government, the prime minister pointed to the three-month extension of the Canada Emergency Wage Subsidy and the credit available to large companies through the Large Employer Emergency Financing Facility (LEEFF).

The federal government will additionally be providing $15 million in funding for the Women Entrepreneurship Strategy Ecosystem Fund, which Trudeau said will support female entrepreneurs facing challenges during the pandemic. "This contribution is a key investment that will enable the Red Cross to adapt to the challenges presented by COVID-19, as well as help to assist Canadians by equipping, recruiting and training people to be better prepared for events that occur during this pandemic and beyond".

More news: Dyson’s Cancelled Electric SUV Seats 7, Had 600-Mile Range

"We're gonna continue to work with airlines across this country to make sure that they are drawing on the benefit packages that we've put forward for workers through the wage subsidy".

The Montreal-based company has been bleeding cash since mid-March and expects even fewer passengers between April and June.

Speaking from Rideau Cottage on Saturday, he told reporters the vaccine trials will be conducted out of the Canadian Centre for Vaccinology at Dalhousie University.

The Canadian Red Cross will receive $100 million to help it meet Canadian's pandemic demands as well as prepare it to handle future floods and wildfire relief efforts, Prime Minister Justin Trudeau said May 16.



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