According to recent news, Japan Airlines (JAL) is going through some hard times due to the economical downturn and is planning a restructuring. As a result, the company will cut 13,000 jobs by 2015, a number considerably bigger than previously announced. Thus, the working force after the layoffs will reach about 35,000 and the number of subsidiaries will be cut from 120 to 50.

Most of the job cuts will take place at Japan Airlines International Co., which operates all JAL flights, according to Kyodo News.

The additional job cuts (4,000 more than it was announced) will involve the sale of equity stakes in JAL Hotels Co. and consolidating subsidiaries from abroad of the JALPAK Co. travel agency.

JAL also made a formal request to banks to write off or convert their $2.7 billion in loans into equity, as a plan to return profitability to the company. The plan for the restructuring is to be released at the end of the month.