Airlines Near 50,000 Job Cuts as American, United Feel Squeeze
- Layoffs set to begin Thursday without new federal payroll aid
- Mnuchin sees chance of deal, asks carriers to delay furloughs
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U.S. airlines are preparing to lay off tens of thousands of workers starting Thursday unless they get additional federal aid, sparking a plea from Treasury Secretary Steven Mnuchin to hold off on the cuts amid signs of progress in talks with Congress.
American Airlines Group Inc. has warned that furloughs of 19,000 employees will start when existing U.S. payroll support runs out at the end of the day Wednesday. United Airlines Holdings Inc. said earlier this week that it was planning 12,000 job cuts, and smaller carriers are set to make additional reductions.