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Business

Japan Airlines considering further job cuts

Text by NEWS WIRES

Latest update : 2009-08-24

Japan's main carrier, Japan Airlines, could cut as many as 5,000 jobs by 2012, local media say. The cash-strapped company has forecast a loss of 660 million dollars in the year to March 2010.

AFP - Cash-strapped Japan Airlines is considering cutting about 5,000 employees, or 10 percent of its group workforce, by March 2012, Kyodo News reported Monday.

Kyodo, quoting industry sources, said the cuts may be implemented through attrition and steps such as encouraging early retirement.

The report could not be immediately confirmed with Asia's biggest carrier.

On August 7, JAL announced drastic cuts to its flight services as it braces for a second straight year in the red amid a slump in demand, particularly from business travellers, caused by the global downturn.

JAL, which has announced more than 11,000 job cuts since 2005, forecast a loss of 63 billion yen (660 million dollars) in the year to March 2010, after a 63.2-billion-yen deficit last year.

Date created : 2009-08-24