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Continental Airlines Cutting 1,700 Jobs

Continential AirlinesContinental Airlines is cutting 1700 jobs because of reduced passengers.
The Houston-based firm said it would be "eliminating approximately 1,700 positions across the company, including management and clerical positions." The cuts could save the firm 100 million dollars when "fully implemented in 2010."

They come on top of the previously announced removal of 500 reservation agents and leaves of absence for 700 flight attendants.

Announcing earnings for the second quarter, the airline posted a net loss of 213 million dollars at earnings of -1.72 dollars per share, close to analysts' expectations.
An article in the Wall Street Journal says a fall in business travel is causing a loss in revenue for U.S. airlines.

Posted on July 21, 2009





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