AMR seeks to cut 13,000 jobs

American Airlines parent AMR Corp. has unveiled its plan of action to save $2 billion in annual costs by cutting 13,000 jobs and seeking union approval to drop its traditional pension plans. "The world has changed around us and this is our moment to adapt or lose the opportunity forever," said Tom Horton, chairman, president and CEO of American Airlines. "Our industry is now defined by the changes our competitors made in restructuring to secure their futures, and the landscape is littered with those airlines that failed to change."

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