Member Since: 7/31/2007
Posts: 8,201
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'Bankrupt' Malaysia Airlines cuts 30% of workers
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The promised overhaul at Malaysia Airlines has begun. New chief executive Christoph Mueller—dubbed "the Terminator"—says 6,000 of 20,000 jobs at the "bleeding" airline will be slashed. "We are technically bankrupt," says Mueller, who developed a reputation for laying off workers during restructuring at Ireland's Aer Lingus, Belgium's Sabena, and Germany's Lufthansa airlines, per the BBC. "The decline of performance started long before the tragic events of 2014." Before MH370 disappeared and MH17 was shot down over Ukraine, the airline suffered from what the AFP calls "poor management, unwise business decisions, government meddling, and unfavorable service and supplier contracts stemming from Malaysia's crony capitalism."
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