Economy

xchrom

(108,903 posts)

32. American Airlines to cut 13,000 jobs

Thu Feb 2, 2012, 10:50 AM

Feb 2012

http://www.aljazeera.com/news/americas/2012/02/2012224340464860.html

The parent company of American Airlines says it needs to eliminate about 13,000 jobs, as one of the largest US airlines remakes itself under bankruptcy protection.

Thomas W Horton, chief executive of AMR Corp, said on Wednesday that the company hoped to return to profitability by cutting spending by more than $2bn per year and raising revenue by $1bn per year.

The company aims to cut labour costs by 20 per cent, along with 15 per cent of its workforce, and will soon begin negotiations with its three major unions.

AMR lost $884m in the first nine months of 2011, and on Tuesday it disclosed a $904m loss for December alone. It has lost more than $11bn since 2001.

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Highlight:

STOCK MARKET WATCH -- Thursday, 2 February 2012 [View all] Tansy_Gold Feb 2012 OP

Firm Open Called For Asian Markets On Thursday Ghost Dog Feb 2012 #1

It Don’t Mean a Thing If You Ain’t Got that Swing Ghost Dog Feb 2012 #2

Wake up Campers! It's GROUNDHOG DAY! Demeter Feb 2012 #3

Have we got a theme for the weekend! It's a gem! Demeter Feb 2012 #4

Present and accounted for! hamerfan Feb 2012 #22

We watched that last night. Our littlest one made a "pop-up" groundhog in school yesterday Roland99 Feb 2012 #31

And here I thought this deja vu in the clinic.... AnneD Feb 2012 #38

Goldman Sachs is a “Sell" Eric Fry Demeter Feb 2012 #5

Gupta tips started earlier, prosecutors allege Demeter Feb 2012 #9

"Manufacturing Growth" Continues By Chuck Butler QUOTES ADDED--DEMETER Demeter Feb 2012 #6

Facebook to raise $5bn in IPO Demeter Feb 2012 #7

Karl Denninger: "FB": DO NOT BUY DemReadingDU Feb 2012 #19

Not to mention the fact that its "product" is useless, pointless, and can be harmful Demeter Feb 2012 #21

Never underestimate the greed Tansy_Gold Feb 2012 #28

Max Keiser.... AnneD Feb 2012 #39

MF Global risk chief urged caution on trades Demeter Feb 2012 #8

Affinity fraud; Fleecing the flock: The big business of swindling people who trust you Demeter Feb 2012 #10

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Michael Hudson: The Man Who Fired Greenspan Demeter Feb 2012 #12

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What a Strong Servicer Settlement Looks Like By Abigail Caplovitz Field Demeter Feb 2012 #16

Attorney General Champs, Chumps, and Eric Schneiderman By Abigail Caplovitz Field Demeter Feb 2012 #18

But, just think of how hard it is to raise a billion bucks in campaign contributions! Fuddnik Feb 2012 #20

First off let me say good morning to all. Second.... Hotler Feb 2012 #35

And that my friend.... AnneD Feb 2012 #41

French banks would come to Britain to avoid tax: Cameron Demeter Feb 2012 #15

Summers: “Inside Job had essentially all its facts wrong” By Felix Salmon Demeter Feb 2012 #17

GUILLOTINE! n/t Hotler Feb 2012 #37

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i wake up to learn there will be 6 more weeks of winter... xchrom Feb 2012 #29

Not here Demeter Feb 2012 #44

we need to move phil to your place...stat! nt xchrom Feb 2012 #46

Replacing Factories With Jails: Just 44% of Milwaukee’s Black Men in Workforce xchrom Feb 2012 #30

And then, With Forced Labor--Voila! Slavery Returns! Demeter Feb 2012 #47

+1 xchrom Feb 2012 #48

And it's bi-partisan to boot. Fuddnik Feb 2012 #51

American Airlines to cut 13,000 jobs xchrom Feb 2012 #32

AMR playing "jingle mail" with their debt (like some homeowners) Roland99 Feb 2012 #34

+1 xchrom Feb 2012 #36

After seeing the crooks .... AnneD Feb 2012 #55

Oil down 1% to $96.61/bbl. Gas prices here about $0.25 shy last summer's highs. Roland99 Feb 2012 #33

They are ginning up... AnneD Feb 2012 #42

Oil ends at six-week low after supply rise Roland99 Feb 2012 #43

I thought I remembered .... AnneD Feb 2012 #54

Miss Demeter, your prediction of the shit hitting the fan.... Hotler Feb 2012 #40

The end has been near for awhile. DemReadingDU Feb 2012 #45

I live in anticipation Demeter Feb 2012 #49

This explains why Goldman is Cannibalizing itself Demeter Feb 2012 #52

Just remember folks... AnneD Feb 2012 #56

Actually OBama is much like FDR, FDR had one advantage, a HUGE Democratic majority in Congress happyslug Feb 2012 #57

Obama did have a Dem Congress AnneD Feb 2012 #58

Obama's Democratic Congress was no where near as left wing as the Congresses of the 1930s happyslug Feb 2012 #59

Sorry, just skimming the posts, hamerfan Feb 2012 #60

My point was FDR was to the RIGHT of Congress happyslug Feb 2012 #61

Workers pay as prophets of austerity gain sway xchrom Feb 2012 #50

The inbox is overflowing Demeter Feb 2012 #53