Japan - Japan Airlines Corp. (JAL) is expected to slash more than 15,000 jobs, a third of its work force, in three years to save the troubled company from total collapse.

The carrier's workforce will be reduced to about 36,000 by the business year to March 2013, Kyodo News reported Monday citing unspecified sources.

JAL's move also includes the sale of the company's subsidiaries such as JAL Hotels Co.

The airline is going to embark on a government-led turnaround that would include a fresh investment of 300 billion yen ($3.3 billion) and wipe out much of its increasing debts under bankruptcy protection.

The state-backed Enterprise Turnaround Initiative Corp. (ETIC) plans to decide on its bailout package for JAL as early as January 19, the same time the airline is expected to file for bankruptcy protection with company President Haruka Nishimatsu resigning soon after.

MVZ/TG/DT

Originally published in Press TV