About 25 per cent of Malaysia Airlines’ 20,000 employees could lose their jobs under a restructuring plan, according to foreign media reports.

The Wall Street Journal reports that the troubled carrier is likely to cut a quarter of its workforce and Reuters also said the restructuring plan could include the loss of up to 5,000-6,000 jobs, citing a source with direct knowledge of the matter. Incidentally, Chinese media reports also said only up to 4,000 workers will lose their jobs, which will still amount to 20 percent of jobs.

The restructuring plan is also reportedly set to include route cuts and a new CEO for the company. Malaysian state fund Khazanah, the airline’s majority owner, is expected to announce the overhaul as early as Aug 28.

The carrier has been already struggling over the past three years, amid intense competition. The loss during the past three years was US$1.3 billion. The twin aviation tragedies of MH17 and MH370 have further pummelled its earnings. Media reports said the airline is burning US$2 million every day, as pictures on social media reportedly showed almost-empty cabins on Malaysia Airlines flights.