American Airlines Set to Fire Some 13,000 Employees.

American Airlines Set to Fire Some 13,000 Employees.(PTv).The third-largest American carrier has reportedly planned to fire nearly 13,000 employees to radically cut its costs in order to stay afloat.
Senior officials of the American Airlines have met with union representatives to detail the plans for the layoffs which are aimed at cutting costs by 20 percent.
American Airlines and its parent company, AMR Corporation, filed for bankruptcy protection back in November, 2011.“All workgroups will have total costs reduced by 20 percent, including management," AMR Chief Executive Tom Horton said in a letter to the corporation's employees Wednesday."While the savings from each work group will be achieved somewhat differently, each will experience the same percentage reduction,” he added.Reports say the AMR will cut 1,400 management and support staff, 400 pilots, 2,300 flight attendants, 4,600 maintenance workers and 4,200 fleet service employees.Horton said that the airline needed to save $1.25 billion a year from employee-related costs.Read the full story here.