Qantas is set to outline major job cuts next week in response to its massive financial losses.

The airline said in December it expects cut at least 1000 jobs in 2014 as it works to save $2 billion over the next three years.

It is expected to to post a loss of up to $300 million for the for the first half of the 2013/14 financial year when it announces its financial results on Thursday.

On Friday, Qantas denied market speculation it was planning to cut up to 3000 jobs, plus shed some overseas routes.

“There are a series of unsubstantiated and unsourced rumours swirling around ahead of our half year results, ranging from estimates on job losses to route changes,” Qantas said in a statement.

“The facts are that Qantas has flagged the need to make tough decisions as part of strengthening our business, which we will outline next Thursday.”

The airline would not comment on whether overseas routes to London or Johannesburg would be affected.