American Airlines needs to hear the roar of the money-dropping helicopters overhead in order to not make the cuts…
(by Half Dollar) The slow-motion economic collapse of the United States continues.
Today we highlight the case of American Airlines, who is out warning that more employees are about to get the axe.
From Reuters (bold added for emphasis and commentary):
CHICAGO (Reuters) – American Airlines (AAL.O) said on Tuesday its workforce will shrink by 40,000, including 19,000 involuntary cuts, in October as the COVID-19 pandemic continues to weigh on air travel, unless the government extends aid for airline employee payrolls.
Airlines received $25 billion in U.S. government stimulus funds in March meant to cover payrolls and protect jobs through September. As the money runs out without a travel recovery in sight, airlines and unions have lobbied Washington for another $25 billion, but talks have stalled.
Including voluntary exits and leaves as well as forced reductions, American’s workforce will shrink to around 100,000 in October from the 140,000 it employed in March.
Here’s the question: With a majority of Americans flat broke and/or jobless, why do airline industry workers get to keep their jobs, compliments of the Federal government, all-the-while doing nothing as people do not fly?
Follow-up question: In addition to Americans not flying, with all of the lockdowns, shutdowns and riots taking place all over America, why exactly would Tourists want to come to America, and wouldn’t international business travelers look for less hostile nations in which to conduct their business?