Gol Intelligent Airlines layoffs, on the record
Every job cut, severance charge and restructuring Gol Intelligent Airlines reported in its annual reports, 2021 to 2023, quoted from the filings. Headcount went from 15,002 to 14,395 total employees.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2021 | 15,002 | December 31, 2021 |
| 20-F for 2022 | 14,816 | December 31, 2022 |
| 20-F for 2023 | 14,395 total employees | December 31, 2023 |
Job cuts, severance and restructuring
Our summaryEntered agreements with employees, valid for 18 months, that provided flexibility and stability for the team, and reduced airmen working hours by up to 50% during the COVID-19 pandemic.
Word for word“We entered into agreements with our employees, valid for 18 months, providing flexibility and stability for our team (926 captains, 964 co-pilots and 3,262 flight attendants), and we reduced airmen working hours by up to 50%.” 20-F for 2021
Our summaryImplemented salary cuts of 60% for middle and top managers, officers, vice-presidents and the chief executive officer.
Word for word“We also implemented salary cuts of 60% for middle and top managers, officers, vice-presidents and our chief executive officer, and implemented an unpaid leave program for an average of 90 days, which 8,391 employees joined.” 20-F for 2021
Our summarySigned a collective bargaining agreement with unions to jointly preserve jobs of captains, pilots and crew and other workers.
Word for word“Early on in the pandemic, we signed a collective bargaining agreement with the national aviators’ union and with the airline workers’ union to jointly ensure the preservation of jobs of captains, pilots and crew in addition to our other workers for 12 and 18 months, respectively, effective July 2020.” 20-F for 2021
Our summaryGOL and its subsidiaries filed for Chapter 11 reorganization in a US bankruptcy court to restructure their finances and operations.
Word for word“On January 25, 2024, GOL and its subsidiaries (collectively, the “Debtors”) commenced Chapter 11 cases (the “Chapter 11 Cases”) in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”).” 20-F for 2023
Our summaryThe Bankruptcy Court approved up to US$1 billion of debtor-in-possession financing, to be used partly for restructuring costs.
Word for word“As described in more detail in explanatory note 35 - Subsequent Events, on February 28, 2024, the Bankruptcy Court granted, on a final basis, the Debtors’ request to access up to US$1 billion of debtor-in-possession (“DIP”) financing from certain secured bondholders and/or their designees, to be used for, among other things, designated working capital expenses, general corporate needs, and costs related to restructuring.” 20-F for 2023
Gol Intelligent Airlines has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Gol Intelligent Airlines’s annual reports (20-F for 2023, 20-F for 2022, 20-F for 2021) and the financial data it files with the SEC, as of 2024-05-15. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.