Japan Airlines slashes workforce
After filing for bankruptcy protection on January 19th, Japan Airlines has announced that it will cut 16,000 and reduce its fleet by 103 airplanes. the cuts will come in the forms of early retirements, sales of subsidiaries and layoffs. They also plan to cut unprofitable domestic and international routes. The airline said that the reduction will be from 48,714 employees to 32,600 by the end of the year. The company was more than $25 billion in debt when it was bailed out by the Japanese government. The airline if part of the One World alliance, which also includes American Airlines and British Airways.
See "Japan Airlines slashes workforce", BBC News Online, August 30, 2010