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Brazil’s Leading Airlines Tam, Gol Cut Jobs to Reduce Costs Read more: http://www.foxbusiness.com/news/2013/03/04/brazil-leading-airlines-tam-gol-cut-jobs-to-reduce-costs/#ixzz2MbGexyst

Brazil’s Leading Airlines Tam, Gol Cut Jobs to Reduce Costs Read more: http://www.foxbusiness.com/news/2013/03/04/brazil-leading-airlines-tam-gol-cut-jobs-to-reduce-costs/#ixzz2MbGexyst

By Paulo Winterstein — March 04, 2013:  Dow Jones Newswires

Brazil’s two leading airlines, Tam SA and Gol Linhas Aereas Inteligentes (GOLL4.BR), announced layoffs over the weekend as the struggling carriers, which merged recently with rivals, try to cut costs.Tam, which merged with Chile’s Lan last year to form regional powerhouse Latam Airlines Group (LAN.SN), said Monday that on March 1 it cut jobs at airports in Sao Paulo, Rio de Janeiro and Foz do Iguacu, where Tam and Lan both had operations. The company didn’t say how many jobs it cut at the three airports.

Separately, Gol said that after talks with labor unions failed, it decided to go ahead with planned layoffs.

After Gol’s takeover of Webjet, Brazil’s fourth-biggest airline, last year, the company cut 850 jobs, including pilots, air stewards and ground staff. A Rio de Janeiro judge, however, ruled in December that Gol must retain the employees or be fined 20,000 Brazilian reais ($10,080) for each employee it didn’t rehire, as well as possibly paying up to BRL5 million for damages.

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