American Airlines outlines severance packages for high-level employees
An airline employee walks past empty American Airlines check-in terminals at Ronald Reagan Washington National Airport in Arlington, Virginia, on May 12, 2020.
American Airlines has recently detailed severance packages for high-level employees if they are laid off when the terms of federal aid expire in the fall, people familiar with the matter said.
The severance packages for upper management include around nine months of pay and a little over two years of health-care coverage for at least some of the employees at the director level and above, one of the people said.
The packages come as American and other airlines are preparing to shrink and offer employees voluntary separation options as the coronavirus pandemic continues to hurt demand. The virus and measures to stop it have pushed airlines including Delta, United and American to their first quarterly …continued .
[Source: CNBC News]