Just hours after securing a £1.2 billion bailout package, Virgin Atlantic is preparing to further cut its workforce by 1,000 staff, Sky News reports, with the news expected to be announced as early as Friday.

If this is true, it means that Virgin Atlantic's total workforce has almost halved from its peak of 10,000 employees before the coronavirus hit.

The rescue package approved by a British court is expected to provide the company with enough capital to continue operations for the next 18 months and is part of strengthening the company's balance sheet. 

Source: finwire