Lufthansa set to cut costs by scrapping 3,500 jobs

  • German airline Lufthansa is to cut 3,500 jobs in a bid to cut administrative costs by a quarter.

    The carrier is set to slash full-time jobs in administrative departments worldwide over the next coming years.

    The announcement was made as Lufthansa narrowed its loss to $498 million in the first quarter from $667 million in the same period in 2011.