Thai Airways cuts hundreds of management positions
Thai Airways announced a major downsizing of management teams with 240 executive positions cut.
The cuts are required as part of its bankruptcy restructuring.
It comes just ahead of the deadline to submit a final restructuring plan to the Central Bankruptcy Court which then requires creditor approval.
"The number of executive positions has been reduced from 740 to about 500," the airline said in a statement.
The airline must submit its restructuring plan by 2 March.
"A successful restructuring will require cooperation from all parties, including creditors and employees," Thai Airways’ interim President Chansin Treenuchagron said.
It is also reducing the number of supervisory levels in key departments to improve efficiency.
The airline has agreed voluntary resignation packages with workers but hasn’t disclosed exactly how many.
It currently has around 20,000 employees.
Written by Ray Montgomery, Asia Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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