Malaysia Airlines will shed 6,000 workers as part of an overhaul to revive its damaged brand after being hit by double passenger jet disasters.
The staff reductions represent about 30 percent of its current workforce of 20,000.
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The airline will be taken completely under the wing of the government. The state investment company that owns 69 percent of Malaysia Airlines plans to take 100 percent ownership.
Investigators continue to scour the southern Indian Ocean for Flight 370 which veered far of course while en route from Kuala Lumpur to Beijing on March 8 with 239 people on board. In July, 298 people were killed when Flight 17 was blasted out of the sky as it flew over an area of eastern Ukraine controlled by pro-Russian separatists.