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News > Companies
UAL to cut 20,000 jobs
September 18, 2001: 4:34 p.m. ET

Airline latest in industry to respond to terrorist attacks with job cuts
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WASHINGTON (CNN) - With the airline industry reeling from last week's terrorist attacks involving four hijacked jetliners, sources familiar with United Airlines told CNN Tuesday that the airline plans to cut at least 20,000 employees, or 20 percent of its workforce.

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United is the latest in several major airlines to cut its workforce since the terrorist attacks. Continental Airlines has said it is cutting 12,000 jobs, U.S. Airways said it expects to lay off 11,000 employees and sources with Northwest Airlines have said they plan to announce layoffs in the coming week.

Two United flights were involved in last week's attacks. United Flight 175 was hijacked from Boston and slammed into the south tower of the World Trade Center. United Flight 93 was hijacked from Newark, N.J., and was believed headed for a target in the nation's capital when it crashed in Pennsylvania.

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Sources said the company plans to officially announce the job cuts this week.

"No one knows where demand is going, but we know it is going down. That's the critical issue," one source said.

United currently has about 100,000 employees.

Shares of United parent company UAL (UAL: Research, Estimates) recovered from Monday's steep losses, gaining $1.49 to close at $18.99. graphic


- from CNN correspondent Patty Davis

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.