Job cuts announced by Air France

<p>Air France has announced it is cutting jobs.</p>

Hundreds of jobs are being cut by Air France through voluntary redundancy, the firm has said.

It was announced by the company that it is seeking to let 2,800 workers go, while it was also revealed the firm is expecting to miss its targets for 2013.

Air France previously stated that it is looking to cut 5,100 jobs from its 69,000-strong workforce due to the necessary measures of its turnaround plan.

"We are in a period of weak demand," chief executive Frederic Gagey told a news conference. He added: "We have felt the full brunt of the cyclicality of air transport."

While the share price of the company dropped by three per cent on the back of the news, it has recovered during the afternoon session of trading.

At 16:12 BST, its stocks were selling for just over two per cent less than at the start of the session on the Paris stock exchange.

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