United Airlines warns 36.000 employees about potential layoffs

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United Airlines warns 36.000 employees about potential layoffs

The airline industry isn't taking off any time soon.

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.

United Airlines warns 36.000 employees about potential layoffs

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%.

Disclaimer: I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

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2020-07-07 20:16

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Staff or Guest writer for The Dog of Wall Street.

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