American Airlines to cut 13,000 jobs
02.02.12
American Airlines has announced that it will cut 13,000 jobs, which equates to around 15% of its workforce. Its parent AMR, which filed for Chapter 11 protection from its creditors in November, said it needs to cut staff costs by 20%. We assume this will see a similar cut in its flights.
AMR also plans to restructure its debt and aircraft leases, ground older aircraft, and change workforce contracts, health benefits and pensions. It plans to start negotiations with unions shortly. Its unions said the plans were worse than they had feared and they will fight them.
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