Staff or Guest writer for The Dog of Wall Street.

2020-07-07 20:16

United Airlines may send thousands of its employees "warn" notices, which means there could be potential layoffs on October 1st. United and other airlines are prohibited from doing layoffs until Sept. 30 due to receiving government assistance via the CARES Act.

Airlines are required to give employees 60 days notice. The number of lay-offs will be dependent on how many employees in the union take retirement packages. Andrew Nocella, United’s chief commercial officer, told employees at a virtual town hall meeting on Tuesday that its network would be slightly more impacted than other U.S. domestic airlines, sources said after the meeting. U.S. airline shares closed 5% lower on Tuesday, with United down almost 8%.