Malaysian Airline considering job cuts

Malaysian Airline considering job cuts

Malaysian Airline System Bhd is Malaysia’s largest airline company. The latest incoming reports claim that the company is considering eliminating as many as 22 percent of its workforce.

This would be the biggest such job cut for the company and would help them turn around the company.

Malaysia Airline is considering cutting between 3,000 and 5,000 jobs. This could cost them as much as 850 million ringgit but is not expected to hurt the company’s earnings targets.

The company has posted losses for the last three quarters and is considering job cuts for the first time. They are also looking towards selling off assets and cutting costs through other means to return to profit by 2007 as part of a three-year business plan.

They are talking with Qatar Airways and have asked them to absorb 1,000 of its workers. The company is also seeking government loans of 4 billion ringgit to fund operations.