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Continental to cut 1,200 jobs, seeks $500 mln cuts
By Jonathan Stempel
NEW YORK, March 19 (Reuters) - Continental Airlines Inc. (CAL.N), the No. 5 U.S. carrier, said on Wednesday it will cut 1,200 jobs by year end and is targeting $500 million of annual cost cuts as the threat of war and a weak economy convince more travelers not to fly.
The company said it would cut about 125 pilots, 500 reservation agents, 350 airport agents and 225 other employees by year end, or about 2.5 percent of its total work force. It said a U.S.-Iraq war that lasts more than a month might lead to further cost cuts.
http://biz.yahoo.com/rb/030319/airlines_co...tal_cuts_3.html
By Jonathan Stempel
NEW YORK, March 19 (Reuters) - Continental Airlines Inc. (CAL.N), the No. 5 U.S. carrier, said on Wednesday it will cut 1,200 jobs by year end and is targeting $500 million of annual cost cuts as the threat of war and a weak economy convince more travelers not to fly.
The company said it would cut about 125 pilots, 500 reservation agents, 350 airport agents and 225 other employees by year end, or about 2.5 percent of its total work force. It said a U.S.-Iraq war that lasts more than a month might lead to further cost cuts.
http://biz.yahoo.com/rb/030319/airlines_co...tal_cuts_3.html
