AMERICAN AIRLINES: Thousands of Layoffs on the Horizon

Earlier this week, American Airlines announced they will layoff 11,000 employees, however the exact number won’t be known for several weeks. The company is attempting to emerge from bankruptcy. Executives say that the only way the airline can stay competitive in the industry is to reduce annual labor costs by over $1 billion dollars. That calculates to at least 10,000 workers who will soon be out of a job.