Tragedy-hit Malaysia Airlines to lose 6,000 jobs in bold restructuring
KUALA LUMPUR — Malaysia Airlines will slash nearly a third of its 20,000 workforce and cut back its global route network as part of a radical six billion ringgit ($1.9bn) restructuring following the devastating effect of two jetliner disasters.The 42-year-old company will be delisted by the end of the year under the broad revival plan announced by state fund Khazanah Nasional on Friday that aims to bring long-elusive efficiency and global standards to the loss-making carrier.The 6,000 job cuts were higher than expected by the industry and mark a painful new blow for staff after a traumatic year for the national flag-carrier and the southeast Asian country.Khazanah, which owns a majority stake in Malaysia Airlines, said it would invest in "reskilling" those who lose jobs and pledged to set up a panel to improve often rocky relations between unions and management."Recent tragic events and ongoing difficulties at Malaysia Airlines have created a perfect storm that is allowing this rest...
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