Malaysia Airlines is believed to be planning to slash its workforce by a third as part of a huge restructuring plan which will see the carrier shed its name and re-launch under a new brand.
All 20,000 staff will be sent termination letters this week, according to Channel News Asia, which said some had already received their notifications.
Around two-thirds of the workforce will be sent letters offering them re-employment with the airline’s re-incarnation, a new name for which is expected to be unveiled this week.
The new airline will begin operating on September 1, however, at least 6,000 staff will not be re-employed.
New CEO Christoph Mueller said he aims to bring the loss-making carrier back to profitability within three years.
Malaysia’s fortunes were hit hard last year when it suffered two fatal accidents in quick succession. Flight 370 disappeared without trace in the Indian Ocean in March and Flight 17 crashed in Ukraine after it was hit by a surface to air missile just five months later.
