American will cut thousands of jobs
Story By: Bea Karnes
Source: AP
Many more job cuts are likely at American Airlines as the nation's biggest carrier struggles to survive soaring fuel costs.
American announced up to 900 flight attendant cuts yesterday that will start on August 31st, but that appears to be just the tip of the iceberg. The airline says it expects to shed about eight percent of its total workforce of more than 85,000 workers. That means the number of job cuts would be more than 6,800.
American plans to cut domestic capacity somewhere between 11 to 12 percent in the fall.
The planned job cuts follow announcements of similar reductions at other major carriers American lost 328 million dollars in the first quarter of this year, and analysts expect it to post a loss of about 330 million in the just-concluded second quarter.
