Hong Kong’s Cathay lays off 600 as it faces rising pressure

Hong Kong airline Cathay Pacific Airways says it’s laying off nearly 600 staff as it faces rising competition from rival carriers and tough business conditions.

The airline said Monday that it plans to axe about 190 managers, or a quarter of all the company’s management jobs.

It’s also getting rid of 400 workers in non-managerial roles.

Cathay said frontline workers, including pilots and cabin crew, would not be affected, but added that they “will be also be asked to deliver greater efficiencies and productivity.”

Hong Kong’s biggest airline is making cuts after it reported a $74 million loss last year.

It was Cathay’s first annual loss since 2008. The airline blamed the poor performance on intensifying competition and the slowing Chinese economy.