Daily Israel Report
12:22
Reported

News Brief

  8/29/2014, Elul 3, 5774

Maylasia Airlines to Cut 6,000 Employees


Malaysia Airlines is planning to downsize the company by 6,000 employees as part of an overhaul announced today (Friday) in an effort to revive its damaged brand after being hit by two passenger jet disasters. The staff reduction represents about one third of its current workforce of 20,000. A search for a new CEO for the airline has been initiated..

According to a report in Time, Khazanah Nasional, the state investment company that owns 69 percent of the airline, has stated that the overhaul will include the establishment of a new company to take over the existing Malaysia Airlines business and its reduced staff.