jobs

American Airlines To Chop 19,000 Jobs Amid Travel Slump

AAL) notified employees in a memo Tuesday that it plans to eliminate 19,000 jobs on Oct. 1, unless Congress renews the emergency coronavirus assistance that helped airlines retain staff for the past six months.” data-reactid=”19″American Airlines Group, Inc. (NASDAQ: AAL) notified employees in a memo Tuesday that it plans to eliminate 19,000 jobs on Oct. 1, unless Congress renews the emergency coronavirus assistance that helped airlines retain staff for the past six months.

DAL) indicated involuntary separations are coming for 1,941 pilots, according to Reuters.” data-reactid=”20″The news comes a day after Delta Air Lines, Inc. (NYSE: DAL) indicated involuntary separations are coming for 1,941 pilots, according to Reuters.

Airlines, struggling to survive, are transforming into much smaller organizations with passenger travel not expected to fully bounce back until 2024 and lucrative international

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European stocks surge as cyclicals rally, U.S. jobs data awaited

By Sruthi Shankar

(Reuters) – European shares climbed on Thursday as encouraging economic data from across the globe and hopes of a COVID-19 vaccine lifted sentiment ahead of the crucial U.S. jobs data.

The pan-European STOXX 600 <.STOXX> rose 1.2% to mark its fourth consecutive day of gains. Banks <.SX7P>, automakers <.SXAP> and travel & leisure <.SXTP> firms were the top gainers, jumping between 2.7% and 3.4%.

Financial markets entered the second half of the year on a cheerful note earlier this week, as business surveys showed a coronavirus-induced slump in global manufacturing eased in June.

Adding to optimism, a COVID-19 vaccine developed by German biotech firm BioNTech <BNTX.O> and U.S. pharmaceutical giant Pfizer <PFE.N> was found to be well-tolerated in early stage human trials.

All eyes are on the U.S. payrolls data, due at 1230 pm GMT. Economists have estimated that job numbers rose by 3 million in June,

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