Big job cuts looming for American Airlines workers
3 February, 2012 - 10:33
AMR Corp. - the parent company of American Airlines - has proposed 13,000 job cuts. The company filed for bankruptcy protection this past November.
AMR Corp. is looking to cut labor costs 20% under bankruptcy protection, and will soon begin negotiations with its three major unions.
The company is also proposing to do away with its traditional pension plans.
In a letter to employees, CEO Thomas Horton said:
"We are going to use the restructuring process to make the necessary changes to meet our challenges head-on and capitalize fully on the solid foundation we've put in place."
Employees have been bracing for the bad news since December, when Horton announced the company would emerge from bankruptcy with less workers.
For more on the story:
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