TOKYO — Struggling Japan Airlines Corp., which is in the midst of major restructuring, is considering slashing 5,000 jobs in three years, a news report said Monday.
The planned job cuts would be equal to about 10 percent of the company’s work force, Kyodo News agency said, citing unnamed industry sources.
Company officials could not be reached for comment late Monday.
The number of workers at Japan Airlines, Asia’s biggest airline group, stood at 48,930 at the end of April, according to the airline’s Web site.
The money-losing airline, known as JAL, hopes to cut the jobs through early retirement by March 2012, Kyodo said. The airline aims to unveil a massive restructuring program by the end of September.
Hit by plummeting demand in a slumping global economy and swine flu fears, JAL incurred its biggest-ever quarterly net loss of 99 billion yen ($1 billion) in the three months to June.
The airline has forecast a net loss of 63 billion yen for the current fiscal year to March 2010. As part of restructuring, JAL plans to cut the number of flights and slash costs by 53 billion yen during the current fiscal year and another 100 billion yen in the next fiscal year.