Bloomberg UK Prime Minister Boris Johnson backed off from intervening in British Airways (BA) plans to cut pay and modify contracts for remaining staff after dismissing thousands of others. “British Airways and a number of other companies are in severe difficulties at the moment,” Johnson told lawmakers in Parliament. “We cannot simply with a magic wand ensure that every single ...

Bloomberg Burberry Group Plc said it will cut 500 jobs globally to cut costs after lockdowns caused sales to plunge by almost half in the past quarter. The British fashion house said comparable retail sales fell 45% in the quarter and predicted that the pandemic will continue to hurt performance in the current period. Covid-19 prompted luxury boutiques to shut ...

Bloomberg Delta Air Lines Inc will take a charge of as much as $3.3 billion to cover the costs of early retirement and voluntary separation plans for employees, as the carrier scales back operations amid a plunge in travel. The charge will be recorded in the third quarter and most workers will leave on August 1, the Atlanta-based carrier said ...