Spirit Airlines, the bankrupt budget carrier, plans to cut its capacity by about 25% in November as part of a restructuring plan.

The scheduling cuts will likely be accompanied by layoffs as the airline looks to reduce costs, Spirit CEO Dave Davis said in a memo to employees.

"These evaluations will inevitably affect the size of our teams as we become a more efficient airline. Unfortunately, these are the tough calls we must make to emerge stronger. We know this adds uncertainty, and we are committed to keeping you informed as these decisions are made," he said.

The airline's new schedule is expected to be finalized next week.

Spirit has also contacted the union representing its pilots in an effort to try to save $100 million, according to a memo from union chair Captain Ryan Mulle.

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