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United Airlines Reports Losses, To Cut Jobs

  • United reported a loss of $723 million for 2012. To curb costs, United Airlines will cut over 600 jobs, the airline announced on Thursday. United Continental Holdings President and CEO, Jeff Smisek, made the announcement about the reductions and said that about 6% administrative positions may be lost. In a letter to employees, Smisek sought volunteers as the company tried to minimize the number of involuntary job cuts. In 2011 United had announced an $840 million profit but a sharp hike in costs following its merger with the former Continental Airlines, and losses due to Hurricane Sandy is believed to have slashed revenue by about $140 million. The job cuts are likely in the Chicago and Huston offices.

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