) said on Wednesday it is sending 25,000 notices of potential furloughs to frontline workers and warned that demand for air travel is slowing again as COVID-19 cases increase and states re-establish quarantine restrictions.
In a memo to employees released on Wednesday, American said the notices are tied to the overstaffing it expects in October when U.S. government payroll assistance expires. Among different work groups, warnings are being sent to 2,500 pilots or about 18% of the total, nearly 10,000 flight attendants or 37% of the total, and 3,200 mechanics or 22% of the total.
They noted, however, that if Congress passes another round of payroll support through March 31, the need for involuntary furloughs at that time would be “much less throughout the industry” because “there would most certainly be more demand for air travel.”
Airline industry fired people, THEN they accepted bailouts that required them not to fire people, NOW, the second the federal requirement runs out, they will fire more. Take that bailout money back!
All the more reason to extend enhanced federal U.I. benefits.
A basic income might lift them off the ground we safety net the billionaires from hitting face first when the cards don't go their way.
In the meantime, in China
Here we have an excellent example of how the state has funneled wealth to the wealthy
What was all the damn PPP money for?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
American Airlines warns 25,000 workers of potential furloughsAmerican Airlines Group Inc. shares dipped 2% in after-hours trading Wednesday after it sent notices to 25,000 workers -- about one-fifth of its workforce -- about potential furloughs as the airline copes with what it calls slackening demand for air travel during the pandemic. American, which is prohibited from slashing jobs or pay rates through Sept. 30 under terms of $25 billion in federal payroll support, also urged employees to take buyout and early retirement packages before being forced to cut their jobs. The airline, which reported an 80% plunge in June revenue, says it will be overstaffed by 20,000 when federal aid expires Oct. 1. Earlier this month, United Airlines Holdings Inc. warned its workers it could furlough 36,000 of them and likely move to layoffs in August, the Wall Street Journal reported. United had 96,000 employees as of December. As soon as the market opens tomorrow I’m selling all my shares
Source: MarketWatch - 🏆 3. / 97 Read more »
American Airlines warns 25,000 employees about potential job cuts as coronavirus continues to sap demandAmerican Airlines became the latest airline to warn staff about potential furloughs. Funny...they took the handout from the govt and didn't have an issue The airline industry is dead Maybe they should demand people like say, Ted Cruz wear masks all the time so people won't be afraid to fly.
Source: CNBC - 🏆 12. / 72 Read more »
American Airlines Plans to Furlough Up to 25,000 Workers This FallThe airline told 25,000 workers that their jobs are at risk after federal aid expires Oct. 1, as air-travel demand falls again amid climbing coronavirus case numbers. Read this stupid investors, jobs headed into the toilet again thanks to Trump and his weak virus leadership, and lies. ReutersBiz thehill washingtonpost MarketWatch business NewsHour Climbing case numbers More like record breaking numbers climbing daily with no end insight and no federal plan other than it will go away eventually It's funny because ticket prices are still decently high. So, if you want more customers, drop the prices.
Source: WSJ - 🏆 98. / 63 Read more »
American Airlines to warn 25,000 employees of layoffs, furloughs - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. you mean even with the middle seat filled?!?!?!?!?! shocking!!!!!!!!! Failed business model then, they are ALWAYS asking for $$$. Nowhere near enough. Traffic is down nearly 90%
Source: BusinessInsider - 🏆 729. / 51 Read more »
Delta takes $3 billion charge on buyouts, American Airlines workers brace for furlough warningsDelta Air Lines said on Wednesday it would record charges of up to $3 billion in the current quarter for buyout packages aimed at reducing costs while avoiding involuntary furloughs in the fall. They've made enough profits in the past to weather this storm.
Source: Reuters - 🏆 2. / 97 Read more »
'A day none of us wanted to see': American Airlines warns employees of up to 25,000 job cutsAmerican Airlines executives said they hope to significantly reduce the number of layoffs through early retirement and other voluntary programs. Please SHARE and DONATE Flew a couple weeks ago and the flights were ao packed they were offering vouchers to change flights. Not sure how they'll continue anything with that many layoffs It be great, if the democrats would wake up and help the country. We could avoid large companies like AA keep alot of good employees. They are more worried about getting 'Baseman Joe' elected.
Source: USATODAY - 🏆 100. / 63 Read more »