“More Airlines Plan Big Layoffs Despite Taking Billions In Bailout Money”
May 28, 2020
“American Airlines stock fell Thursday after a letter to employees outlining planned job cuts due to the coronavirus surfaced late Wednesday. Delta Air Lines (DAL) is also preparing a round of voluntary job reductions.
In the staff letter, American Airlines (AAL) said it would cut its management and support staff by 30% and could cut frontline employees like flight attendants following the severe drop in travel amid the coronavirus crisis…
American has received $5.8 billion in bailout money so far and has applied for another $4.75 billion…”