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Reports: American Airlines Plans Job Cut - Quick Facts

As per media reports, American Airlines Group Inc. (AAL) is planning to reduce 30 percent of its management and support roles as part of its measures to cut costs. The airline is reportedly offering buyouts for the affected staff.

In April, the U.S. Department of the Treasury had approved $5.8 billion in financial assistance for American Airlines Group Inc. from the Payroll Support Program (PSP) created through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Payroll Support Program protects American's team members from involuntary furloughs or pay rate reductions through Sept. 30, 2020.

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