Report: Quantas prepares for layoffs

SYDNEY, Aug. 18 (UPI) -- Australian airline Qantas is preparing to announce layoffs to compensate for the high cost of jet fuel, the Sydney Daily Telegraph said Thursday.

The exact number to be dismissed could be known as soon as Monday, officials said.

"Some of our more major departments will start talking to people as early as Monday," said Qantas Chief Executive Geoff Dixon.

The carrier has 38,000 employees, with 93 percent employed in Australia.