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JAL’s job cuts may expand to 20,000

JAL’s job cuts may expand to 20,000
PTI
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First Published: Sun, Mar 28 2010. 07 50 PM IST
Updated: Sun, Mar 28 2010. 07 50 PM IST
Tokyo: Struggling Japan Airlines Corp is considering expanding its job cuts by fiscal 2012 to around 20,000 from the currently planned 15,700, Japanese media reported.
The nearly 5,000 further reductions will include additional early retirements, reports said on Saturday.
JAL apparently aims to receive new loans from financial institutions by enhancing its restructuring so it could promote early rehabilitation. The job cuts will be the pillar of its reconstruction plan to be compiled by the end of June.
The planned reduction would account for nearly 40% of the overall employees of the JAL group.
JAL has decided not to recruit any new graduates for all kinds of jobs including pilots and cabin crew members for fiscal 2011 for the first time in its history to reduce costs under the state-backed restructuring process after filing for bankruptcy protection in January.
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First Published: Sun, Mar 28 2010. 07 50 PM IST