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Wednesday, February 1, 2012 - 6:17pm
American Airlines has announced plans to cut thousands of jobs.
The nation's third largest airline company said it's cutting 12,000-14,000 jobs out of its current workforce. It also hopes to reduce labor costs by 20 percent.
American Airlines recently filed for bankruptcy in November after losing almost $900 million in the first nine months of 2011, and an additional $900 million in December.