Asia Bizz: Japanese Airlines Will Slash Jobs In Order Of Restructuring Of The Company
Japanese Airlines has announced that it will be restructuring the company and to stabilize its economy it will be slashing some 16000 jobs. The Airlines had applied for bankruptcy protection in the month of January. And in a move to gain its financial stability, JAL will be closing down some unprofitable domestic and international routes.
The job cuts will take place mostly in providing early retirement to its employees. JAL is a part of the One World Alliance, which includes the American Airlines and the British Airways. As other airlines around the world which are hit badly because of the reducing number of passengers, due to the economic problems in the world.
The Airlines official stated that it will be planning of getting profit from its operations from the first fiscal year itself. The bankruptcy of the Japanese Airlines has been caused because of its $25 billion debt.