Continental slashes 3000 jobs
Three thousand jobs are being cut at Continental Airlines. In a memo to employees Chief Executive Officer Larry Kellner said “the airline industry is in crisis” due in part to rising oil prices. Fuel prices have jumped 71 percent since this same time last year. The goal of Continental is to cut the workforce by 6.6 percent. Since March of 2008 the airline industry has announced plans to cut more than 7,600 jobs.