Australia's Qantas rises most in nearly 3 months after announcing job cuts

By Reuters News04:07 (UTC), 10 November 2026 Updated

** Shares of Qantas Airways QAN.AX rise as much as 4.9% to A$9.77, their highest since August 18

** Australia's flag carrier says it will cut 850 jobs in Australia and outsource some corporate functions to consulting firm Accenture as it adapts to increased use of AI in the airline industry

** Jobs will be cut over the coming years, with the first round set to happen by mid-2027, says chief executive Vanessa Hudson in an email to Qantas staff

** YTD, stock down 6.1%

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