In the wake of two devastating crashes which has seen passengers desert the airline despite huge price cuts, Malaysia Airlines is to slash its workforce by 30%, and de-list from the stock market by the end of the year.<br /><br />The route network will also be cut back as the firm aims to return to profitability by 2017. The target is to return to the stock market by 2019.<br /><br />A 1.4 billion euro restructuring plan will also try to make success out of failure by imposing long-overdue efficiency and global standards on the carrier.<br /><br />The job losses are bigger than expected, but majority shareholder Khazanah Nasional, a state fund, says it will “reskill” workers to soften the blow.
