[ close ]


Bg1

Spread this message with Digg, Del.icio.us, Reddit, or Stumbleupon, and subscribe to the RSS Feed to track articles

Airline Industry To Cut 7,000 More Jobs

Published 07/23/08 Jeff Bennett - Print Article
E-mail - editor@economyincisis.org

Job losses continued in the airline industry Tuesday when UAL Corp., parent company of United Airlines, announced to slash 7,000 jobs or 13 percent of its workforce, according to Bloomberg.com. This news came after UAL reported a net loss of $2.73 billion in the second quarter.

UAL’s news of more cuts compounds the previous release of 1,500 employees. Rising energy prices have devastated the industry with more than 26,000 job eliminations this year.


Source Bloomberg.com:

The payroll reductions amount to about 13 percent of UAL's employees, and push the total to about 26,000 across the U.S. industry. United, the world's second-largest airline, is among the carriers boosting fares and shrinking their fleets and workforces to stem losses from record jet-fuel prices.

…

The new job-cut total adds to UAL's previous announcement of the elimination of 1,500 salaried positions. UAL said it will shrink its workforce by 5,500 hourly employees by the end of 2009. The carrier had about 52,500 workers as of March 31.

Click here to contact your Representative in Congress.

Spread this message with Digg, Del.icio.us, Reddit, or Stumbleupon, and subscribe to the RSS Feed to track articles

Bg1

Economy In Crisis relies on financial support from its readers. Learn more.

Your endorsement is greatly appreciated. Click here for other ways to get involved.

Bg1

Comment on this article

Subject
Comment


Article Comments From Readers

Bg1

Additional Recommended Articles

Workers Hit Hardest by Fannie-Freddie Crisis
Ohio Job Losses In 2000’s Worst Since Great Depression
Oil Prices Infect America
80,000 job losses, unemployment spikes
Employers Slash Jobs by Most in 5 Years

Bg1

Register for newsletter