The airline had six local executives who have retained their jobs and now constitute the majority of the leadership team.
The staff being let go will be paid a minimum notice period of one month, plus any accumulated leave and other entitlements.
A 20 per cent permanent salary reduction would also be implemented for all employees from June 1.
In the short term, staff are only being asked to work between two and five days a week.
Fiji Airways managing director and chief executive Andre Viljoen said the adjustments were necessary and unavoidable as the Covid-19 crisis continued to cause the further suspension of international services.
He said the company was also negotiating with its lenders and aircraft lessors for loan and lease payment deferrals, and arranging debt finance from a number of financial institutions.
Viljoen said the move was a very difficult one and had only been made after exhausting all other options.