THAI buyouts to cut 2,000 staffers
published : 3 Apr 2015 at 11:08
Thai Airways International says it will offer early retirement buyouts to about 2,000 staff members.
Kanok Thongphueak, vice-president for human resources and management, said the retirement package is part of the company's plan to cut 5,000 jobs. It wants to reduce staffers to 20,000.
Employees with more than 15 years of service can join the programme, which will offer at least 30 months of compensation. Retirees have to submit the application during April.
The programme is separate from normal attrition and early retirement, which sees about 1,000 employees retire each year.
The redundancies are required under a rehabilitation plan adopted to reverse THAI's financial losses. The national carrier posted a net loss of 15.8 billion baht last year and 12 billion baht in 2013.