19/12/2001

John Menzies to cut jobs as travel sector remains slow

John Menzies has announced the axing of 1,200 jobs from the company’s airport services division.

Menzies, blaming the decision on the general slowdown in the travel market, said that around 200 jobs would go in the UK.

The company’s latest figures showed that profits in the six months to October were down 30 per cent on the same period last year to £9.9 million.

David Mackay, John Menzies Chief Executive said that the aviation group had taken “vigorous action” to respond to the difficult trading conditions since the September 11 attacks.

The company has posted a £2.5 million operating loss in its aviation business in the six months to October.

In 1998 John Menzies sold off its retail bookshop chain to focus on UK newspaper distribution business and airport services division.

The firm also divested the last high street business in its portfolio when the Early Learning Centre retail shops chain was sold off earlier this year. (SP)

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