Malaysia Airlines to Cut 30 Percent of Its Workforce

KUALA LUMPUR, Malaysia — Malaysia Airlines will cut 6,000 workers as part of a $1.9 billion overhaul announced Friday to revive its damaged brand after being hit by double passenger jet disasters.

The staff reduction represents about 30 percent of its current workforce of 20,000. A search for a new CEO is underway but there is no move to change the airline's name, which some branding experts had said was necessary for a successful makeover.

See also: Malaysia Airlines Is Burning $2 Million Every Day as Flights Go Empty

Khazanah Nasional, the state investment company that owns 69 percent of the airline, said the overhaul includes the establishment of a new company that will take over the existing Malaysia Airlines business and its reduced staff. Read more...

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