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Spain’s Iberia presents major layoff plan

By Washington Examiner
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MADRID (AP) — Spanish airline Iberia has presented a plan to cut almost a fifth of its workforce nearly a week ahead of a first round of strikes by labor unions opposing the plan.

Iberia, Lineas Aereas de Espana S.A., said Tuesday its losses totaled €850 million between 2008 and September 2012 and this obliged it to take drastic action.

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