Business
Lufthansa Cuts 4,000 Jobs Amid German Economic Slump
Lufthansa Cuts 4,000 Jobs, citing Germany’s economic slump and rising automation. Layoffs target admin roles across group airlines by 2030.
Lufthansa Cuts 4,000 Jobs across its group operations, the airline announced on Monday, citing ongoing economic difficulties in Germany and a strategic shift toward digital efficiency.
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The cuts represent nearly four percent of the airline group’s workforce and will affect mainly administrative roles, with the majority of layoffs expected in Germany by 2030.
The Lufthansa Group, which includes carriers like Eurowings, Swiss, Brussels Airlines, Austrian Airlines, and recently acquired ITA Airways, currently employs around 103,000 people globally.
“This is not about operational staff, but about streamlining structures and eliminating duplicated administrative work,” the group said.
Lufthansa linked the restructuring to advancements in digitalisation and artificial intelligence, which it claims will increase efficiency across several departments.
Germany is in the midst of its second consecutive year of recession, with unemployment rates at a ten-year high.
The economic strain, driven by rising energy costs, sluggish digital adaptation, and mounting Chinese competition, has begun to affect even the country’s strongest corporate players.
Just days earlier, German industrial giant Bosch announced it would slash 13,000 jobs, further highlighting the difficult climate facing Europe’s largest economy.
As part of its long-term planning, Lufthansa also unveiled new financial goals for the 2028–2030 period, aiming for an adjusted operating margin of 8 to 10 percent, reflecting a more cost-conscious and tech-driven future.
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The move is being closely watched by analysts, with many expecting other major European carriers to follow suit as industry trends shift toward automation and leaner operational models.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
UBA Foundation Drives Environmental Awareness with Tree Planting in Lagos Schools for WED 2026
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