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US Airways to Cut 11,000 Jobs
US Airways, the nation's sixth-largest airline, said on Monday it would reduce its capacity by 23% and cut its work force following the attacks on the World trade Center and the Pentagon building.
US Airways said the work force cuts would total about 11,000 employees. Major U.S. airlines have been cutting schedules and weighing job cuts as passenger traffic slows in the wake of the attacks.
US Airways Express carriers Allegheny Airlines, Piedmont Airlines, Potomac Air and PSA Airlines �� all wholly owned by US Airways ��will also announce service and personnel reductions shortly, the carrier said.
US Airways shares dropped $6.04, or 52%, to close at $5.58 at the close of Monday trading on the New York Stock Exchange.
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