JetBlue: Layoffs part of plan to save $300M in 2 years

July 20 (UPI) -- JetBlue Airways announced Friday it plans to cut a number of jobs as part of a significant restructuring, although exactly how many jobs is unclear.

The carrier said the job cuts won't involve flight crews and but will occur in a reorganization of certain teams within the airline, in an effort to streamline operations.

JetBlue said it expects to save $300 million by 2020, as a result of the move.

The reshuffling will occur largely in the airline's Long Island City, N.Y., headquarters. Many of the layoffs will be accomplished through attrition, and compensation packages will be available to employees who leave voluntarily, spokesman Doug McGraw said.

JetBlue mechanics, who voted earlier this year to unionize, will not be affected by the cuts. The airline has nearly 18,000 employees.

JetBlue unveiled a cost-reduction plan two years ago that included more self-service tools for customers, consolidating contracts and improving maintenance scheduling.

The value of JetBlue shares rose marginally on the Nasdaq index shortly after the announcement Friday.