Business Headlines: Job Cuts @ American Airlines, UMass Memorial
BOSTON (CBS) – Unemployment numbers for January are due Friday, but we’re getting some grim news today.
As many as 900 jobs are on the chopping block in the UMass Memorial Medical Network.
The CEO told employees he needs to cut $50 million from the budget.
150 cuts will come at the hospital in Worcester, the rest will come from the sale of two businesses.
AMERICAN AIRLINES CUTS
And we don’t know yet how much this will affect Boston, but American Airlines’ parent company wants to eliminate 15-percent of its workforce.
That’s about 13,000 jobs.
The company filed for bankruptcy protection in November and is trying to restructure, cutting more than $2 billion in spending a year.
It wants to end its traditional pension plans and to stop paying for health benefits for its retirees.
You can expect a long and heated fight from the airlines’ unions on that.
Watch Lisa’s report:
Lisa van der Pool of the Boston Business Journal can be seen weekdays at 6 a.m. on WBZ-TV.
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