Swiss to cut more jobs amid takeover reports

Swiss International Air Lines on Friday announced that it will need to slash an additional 800-1,000 jobs by mid-2006 as it reported a net loss of CHF140 million ($121.5 million) for 2004, narrowed from CHF687 million in 2003. The layoffs are necessary in order to shed another CHF300 million in annual costs by 2007. Swiss warned that if they are not in place "swiftly," it will be unable to post a positive result for 2005. Separately, German media reported that the carrier is close to a deal ...