Money
American Airlines is on a hiring spree
A new gig working within aviation is on the cards for 18,000 people around the world – with American Airlines gearing up for a major hiring blitz
American Airlines is planning to hire 18,000 workers in 2022, on top of thousands of new employees this year to cater to a rebound in travel.
According to reports, CEO Doug Parker plans to tell lawmakers during a hearing about flight disruptions in recent months that his airline is awaiting an influx of new applicants to fill the new roles.
The chief executives of American Airlines, United Airlines and Southwest Airlines, and Delta Air Lines’ chief of operations, will face questions Wednesday from the Senate Committee on Commerce, Science, and Transportation about mass flight cancellations and staffing struggles despite roughly $54 billion in federal payroll aid doled out to the airline industry to soften the Covid pandemic’s impact.
Just months ago, American and Southwest canceled hundreds of flights during brief periods as they struggled with staffing shortfalls and bad weather.
Both airlines have turned to incentives like extra pay or bonuses to avoid repeats during Thanksgiving, which went smoothly – as well as Christmas and New Year’s holidays which are expected to be busy.
COVID making the aviation sector sick
Airlines during the pandemic urged thousands of workers to voluntarily take buyouts or leaves of absence to help cut their labor bills since the aid package prohibited them from laying off staff.
Now they are scrambling to add workers as travel demand returns, competing in a tight labor market that has impacted retailers, restaurants, hotels and other industries.
American, which has about 130,000 employees including its regional airline subsidiaries, has hired more than 16,000 employees this year including pilots, flight attendants, mechanics and customer service agents, Parker said in written testimony ahead of the hearing.
“We believe this positive momentum will continue into next year, as we’ve set a target of hiring an additional 18,000 team members in 2022,” Parker said in his testimony.
American Airlines is one of hundreds of airlines around the world that have been impacted by COVID.
Money
U.S. markets mixed as tech slumps and Fed moves spark uncertainty
Mixed US equity results as tech stocks drop; market uncertainty rises amid Fed Chair change. Join Steve Gopalan’s insights on FX trends.
Mixed US equity results as tech stocks drop; market uncertainty rises amid Fed Chair change. Join Steve Gopalan’s insights on FX trends.
US equity markets posted mixed results as technology stocks fell, reflecting growing concerns about AI disruptions. The delay of key labour data has added to market uncertainty, especially with President Trump’s recent appointment of Kevin Warsh as Fed Chair.
Steve Gopalan from SkandaFX joins us to discuss how these shifts could influence monetary policy, corporate FX strategies, and the broader financial landscape.
We also dive into FX trends, euro-area inflation signals, and Australian dollar movements, exploring what these developments mean for investors worldwide.
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#USMarkets #TechStocks #FedPolicy #FXTrading #AIImpact #LabourMarket #CurrencyTrends #InvestingInsights
Money
Tech stocks and Bitcoin tumble amid market uncertainty and rising job concerns
Wall Street plummets as tech stocks and Bitcoin fall, raising concerns about job market and economic stability.
Wall Street plummets as tech stocks and Bitcoin fall, raising concerns about job market and economic stability.
Wall Street took a sharp hit Thursday as technology stocks and Bitcoin plunged, reigniting worries over the job market and global economic stability. Kyle Rodda from Capital.com breaks down how Alphabet and Qualcomm’s earnings may signal broader tech weakness.
Bitcoin’s recent drop also rattled crypto markets, with Coinbase shares falling sharply. Rodda explains how much of the decline is driven by market fundamentals versus shifting investor sentiment, and how rising AI expenditures are affecting investor confidence in tech.
The surge in unemployment claims, coupled with falling bond yields, is prompting concern over overall market stability.
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#WallStreetCrash #TechStocks #BitcoinDrop #MarketVolatility #JobMarket #InvestingTips #CryptoNews #Ticker
Money
S&P 500 dips as tech stocks struggle with AMD leading losses
S&P 500 declines as tech stocks sell off; AMD plummets, Microsoft stable, investors eye Alphabet’s upcoming earnings report.
S&P 500 declines as tech stocks sell off; AMD plummets, Microsoft stable, investors eye Alphabet’s upcoming earnings report.
The S&P 500 fell as technology stocks faced intense selling pressure, dragging the broader market lower. AMD shares were particularly hard hit, falling 17% after its first-quarter forecast disappointed analysts.
Software names including Oracle and CrowdStrike also struggled, although Microsoft found some stability amid the sell-off.
Investors are now focused on Alphabet, which is set to report earnings after the bell Wednesday.
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