At the Surinamese airline company SLM, a "considerable part" of the nearly three hundred jobs will be cut.
According to the Dutch director of SLM, Paul de Haan, the survival of society is in danger if no action is taken, he has informed the staff.
SLM has accumulated a debt of around 83 million euros in recent years.
The management of the state-owned company and the government decided to continue with the company at the beginning of March.
According to local media, De Haan has made it clear in a conversation with Vice President Ronnie Brunswijk that SLM will need more than 1.6 million euros per month for a year to become viable again.
De Haan, who started at SLM earlier this year, did not speak about firing employees immediately after taking office.
He has now come to the conclusion that the company needs to downsize drastically.
Employees who wish to resign voluntarily will have until mid-May to make this known.
Depending on the number of years of service, salary and medical expenses will continue to be paid for a while.
Their right to fly for free with SLM, if seats are available, also remains for most of them. If there is too little enthusiasm for voluntary departure, the rest will be paid through a collective dismissal permit. It is currently not known how many people the airline intends to continue with.