The cuts mean up to 600 staff could lose their jobs and the airline will soon start consultations about redundancies.
Its Heathrow-Chicago service will be dropped for the winter season, while one of Virgin’s two daily services between Heathrow and Hong Kong will stop.
There will be additional frequency reductions on some other routes throughout this period.
The airline said it will work closely with staff and union representatives to find ways to protect as many jobs as possible and avoid compulsory redundancies.
In January, staff were told that the recession meant they would not get an annual pay increase in March, in the hope this would avoid the need for redundancies.
In May, the carrier announced pre-tax profits had almost doubled £68.4m for the financial year March 2008 to February 2009.
But Steve Ridgway, chief executive, said today: ‘The outlook for the industry is as bleak as ever and all airlines are having to shrink their businesses.
‘The fittest will survive and be in a stronger position when the economy grows.
‘We will look to minimise the number of compulsory redundancies and ensure we treat our staff as fairly as possible.’
Rival British Airways has already shed hundreds of staff through redundancies and is in negotiations about further cost-cutting measures.
See also:
BA announces further European cuts (01/07/2009)
Branson predicts first class demise/orders A330s (22/06/2009)
Virgin Atlantic almost doubles profits to £68.4m (26/05/2009)
Virgin implements pay freeze (27/01/2009)
Virgin celebrates brave new world (05/01/2009)