Flybe has become the latest company to announce it is making a significant number of staff redundant in a bid to get a grip on costs.

The Exeter-based airline has confirmed that it will cut around 500 jobs in an accelerated drive to slash its outgoings as soon as possible. News of the job losses comes despite the firm revealing improved financial results for the six months to the end of September.

In January, Flybe explained it would be carrying out a turnaround plan designed to get it back on a strong footing. By June, it had confirmed 490 people had left their roles within the organisation either through redundancy, resignation or as part of a transfer.

It’s now aiming to cut another 500 positions in what it described as “a new phase of efficiency improvements”. The overall aim of this is to achieve “a strong base for future growth”.

Chief executive Saad Hammad said: “The business needed action now and so today (November 11th) we are explaining our next phase which encompasses a review of everything we do and how we do it. Most of the immediate actions are completed, being implemented or already being consulted on. Unfortunately there is a proposal for further redundancies.”

Three elements of Flybe’s immediate action plan have been revealed, starting with the need to optimise configuration. This will be followed by a stage during which it will look to reduce all costs and, finally, a period of improving commercialisation.

Any of the employees at Flybe who feel their job may be at threat or who have already been approached about taking redundancy may wish to seek expert redundancy advice on the subject.

Employees who have worked for a firm for at least two years will typically be entitled to a redundancy payout, while others should check their rights when it comes to notice periods and offers of alternative work.

Mr Hammad said that the airline is ready to consult with trade unions and employees to ensure it carries out the process fairly and in line with UK regulations.

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Published on: November 11, 2013