United Airlines to cut 16,370 jobs once federal support expires: WSJ

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United Airlines Holdings Inc. is planning to cut 16,370 jobs as soon as federal support expires on Oct. 1, as it works to offset the effect of the coronavirus pandemic on its business, the Wall Street Journal reported. The airline had earlier said it might cut 36,000 jobs after months during which flights were grounded and travelers stayed away. Thousands of the airline’s employees have taken voluntary retirement and extended leave packages in recent months, the paper reported. Flight attendants will bear the brunt of the cuts with the airline planning to send furlough notices to 6,920, along with 2,850 pilots, 2,260 airport staff and 2,060 maintenance workers. Talks with the union are continuing. United shares were down 1.9% Wednesday, and have fallen 60% in the year to date, while the US Global JETS ETF has fallen 44% and the S&P 500 has gained 9%.
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