Malaysia Airlines will cut it workforce by 6,000 as part of its restructuring. This is more than expected – most estimates had been in the 3,000 to 5,000 range.
This will amount to 30 percent of the carrier’s workforce and forms part of a restructuring that will cost 6 billion ringgit.
Khazanah Nasional said in the statement that it plans to re-list the carrier in three to five years from now.
Ahmad Jauhari Yahya will stay on as chief executive until July next year, Khazanah said, adding that the search for a new CEO has begun.