PIA plans to lay off 3,500 employees

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ISLAMABAD: The Pakistan International Airlines (PIA) has planned to lay off 3,500 employees with the view to cut its expenses.

Sources said that the 3,500 employees would be laid off under the voluntary separation scheme (VSS). They added that Rs12.8 billion would be spent on the VSS, wherein the employees will be paid their dues in two-and-a-half-year.

The scheme will result in an annual saving of Rs4.2 billion to the national carrier.

The sources said that the VSS plan would be forwarded to the federal cabinet and the Economic Coordination Committee (ECC) for approval.