Cathay Pacific (CX) has announced it will let go of 600 members of staff by the end of the year.
The harsh round of cuts will see 190 management staff cut immediately, with a further 400 non-management positions to be dissolved over the coming months.
No frontline employees, pilots or cabin crew will be affected by the current round of redundancies.
The announcement is the first tough call to come under new chief executive Rupert Hogg, who took over from Ivan Chu earlier this month.
Hogg said: “We greatly appreciate and respect our people’s dedication, hard work and achievements. However, we have had to make tough but necessary decisions for the future of our business and our customers.
“Changes in people’s travel habits and what they expect from us, evolving competition and a challenging business outlook have created the need for significant change.
“As we look to the future we will have a new structure that will make us leaner, faster and more responsive to our customers’ needs. It is the first step in the transformation of our business.”
The job losses come after the airline’s disastrous financial results posted in March.
Other recent clues that have pointed towards the company’s economic strain include confirmation the airline will run ten-across seating on B777s and a recent joint-venture with Lufthansa to combat competition from Chinese carriers and the Gulf.