FORT WORTH (1080 KRLD) - With passenger loads in free-fall, American Airlines is cutting 30% of its management and support staff.
This round of planned cuts works out to about 5,000 jobs.
In a note to employees, Elise Eberwein Executive Vice President for People and Global Engagement says they need to reduce costs including the "most significant expense, the cost of compensation and benefits."
The company is offering buyouts and the affected employees have until June 10th to apply for that.
The deal includes one-third pay through the end of the year and five years of travel privileges.
American says it's been losing $70 million a day since the coronavirus pandemic began.