Good Luck to the AMR Folks

[WSurf]

American Airlines may cut up to 15,000 jobs, or about 10 percent of its workforce, in an effort to cut costs at the struggling carrier, sources familiar with the situation told an NBC affiliate.





http://bottomline.msnbc.msn.com/_news/2012/02/01/10288516-american-airlines-may-cut-up-to-15000-jobs
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[BUDDHA145]

Wow!!! a loss of 904 mil in DEC 2011 alone.... Good luck to my friends there!!!


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[macdu]

I guess I am heading back to China.

 

[Andy]

All the best to everyone at AMR. This too shall pass.

 

[skidbuggy]

Any numbers yet as to how deep the layoffs will go on the pilot list?

 

[jonjuan]

Any numbers yet as to how deep the layoffs will go on the pilot list?

And unfortunately, how much the regionals will grow?

 

[johnsonrod]

I wonder if the AA CEO will disclose his management team's potential restructuring bonuses? What a disaster!

Unfortunately, I think a lot of people could see this coming - there is no way AA could have competed with it's debt load and legacy costs. No way. This was not a huge surprise. I am betting many people were just hanging on and hoping things would improve (like this economy and lower gas prices - THANKS OBAMA!).

Good luck to all involved!

 

[rudder]

The AMR/incumbent senior management plan is going to be so draconian that it will make any alternative more palatable. Go find a potential investor to partner with and draw up a competing plan. These bozos that are currently masquerading as the Executive Suite are under the misguided impression that they are still in charge. Time for a wake up call (now where did I put that number for TPG.....)

 

[BID]

Didn't AMR management get bonuses a couple of years ago?

 

[Old School 737]

CNBC Saying 400 pilots to be furloughed ..... not good

 

[Cruncher]

Didn't AMR management get bonuses a couple of years ago?

And they will again in the future, whatever happens to AA & Eagle. Pathetic!

 

[Saluki Dawg]

What is saddest is that all of these pilots were just recalled within the last year or so after nearly a decade on furlough. I know some of these pilots left other flying gigs to come back to what they probably thought was a somewhat safe position given the mass exodus of pilot retirements last year pre BK. I'm personally shocked that ANY pilots were furloughed, but it is AMR we're talking about here.

 

[Old School 737]

CNBC ...AMR plans to dump all pension plans. Time to get out now before the plan gets approved...

 

[Andy]

CNBC ...AMR plans to dump all pension plans. Time to get out now before the plan gets approved...

Aren't the pensions frozen? I don't think that getting out with a lump sum's an option anymore.

 

[waveflyer]

What is saddest is that all of these pilots were just recalled within the last year or so after nearly a decade on furlough. I know some of these pilots left other flying gigs to come back to what they probably thought was a somewhat safe position given the mass exodus of pilot retirements last year pre BK. I'm personally shocked that ANY pilots were furloughed, but it is AMR we're talking about here.

This just pisses me off

 

[Old School 737]

Aren't the pensions frozen? I don't think that getting out with a lump sum's an option anymore.

I think they can freeze them if they get down to a certain % of funding vs liabilities.. So they might not have reached that point yet .. I hope not and guys bail tomarrow.. With the lump.. Might not need to lay off if enough go!

 

[Abernathy]

Furloughing the age 60+ guys first would save the company the most money........

 

[waveflyer]

Furloughing the age 60+ guys first would save the company the most money........

APA should work with the company to mitigate this somehow-

 

[johnsonrod]

CNBC Saying 400 pilots to be furloughed ..... not good

Ouch! I am sure this is very upsetting to many AMR pilots - but if I were in the bottom 400 pilots, perhaps leaving and finding another gig at a faster-growing company (i.e., Spirit, JB, SWA, Emirates and even Delta in a year or two when it starts to hire) would be a much better bet. Nobody wants the stress of being on the bottom of a big, broken company like AMR - especially in this economy!

 

[outerlimits]

Furloughing the age 60+ guys first would save the company the most money........

This should be post of the year.