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Some 15,600 jobs are expected to be cut. All board replica Clerc watches members have also voted to resign, according to Japanese media.
A state-backed turnaround organisation has said it plans to inject about 300bn yen ($3.3bn; £2bn) into JAL.
Japan's government says flights will continue as normal as the airline begins restructuring.
Its reorganisation will take place under the supervision of the state-backed Links London Gift Enterprise Turnaround Initiative Corporation (ETIC).
As well as reducing its headcount, JAL will have to replace some of the older, less fuel-efficient planes in its fleet and reduce the number of routes it flies.
JAL will also receive a 600bn-yen credit line and get 730bn yen in debt waivers.
Shares in JAL have fallen to an all-time low, valuing the firm at just $150m - less than the price of a new jumbo jet.
The Tokyo Stock Exchange said shares in the carrier would be delisted on 20 February.
Along with other major global airlines, JAL has been hit hard by falling passenger numbers during the links of london sweetie bracelet .comglobal economic downturn. The carrier has debts of $25.6bn.
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