Malaysia Airlines to lay off 6K

Malaysia Airlines is set to lay off nearly one-third of its staff.

The move comes as part of a massive restructuring in the wake of two plane tragedies last year –  the mysterious disappearance of flight MH370 and the shooting down of MH17.

According to CNN, the layoff, expected very soon, is estimated to affect 6,000 out of 20,000 staff, though reports are now suggesting the figure could be closer to 8,000. 

The airline was taken private and pulled from the stock market as part of the plan, which is estimated at roughly $1.8 billion. CNN reports, key reforms included cutting unprofitable routes, putting new senior management in place and slashing what is commonly described as a "bloated workforce."

 Read more from CNN.