American Airlines Cancels 13,000 Layoff Warnings After COVID Bill
The $ 1.9 trillion bill passed by Congress on Wednesday includes money to help cover wages.
American Airlines on Wednesday asked 13,000 workers who received layoff notices in February to “tear them up” after Congress passed the $ 1.9 trillion COVID relief bill.
The US bailout includes funding to support the wage bill. American Airlines CEO Doug Parker and President Robert Isom sent a letter to thousands of workers telling them that jobs that were at risk are now safe.
“For our 13,000 colleagues who received Worker Adjustment and Retraining (WARN) notices last month, these are thankfully being canceled – you can tear them up!” they wrote in an email to workers. Leaders also set an optimistic tone about the future as COVID-19 vaccinations increase across the country.
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The bill also provides $ 7.25 billion for the paycheck protection program, a tiny fraction of what was allocated in previous legislation. The bill also allows more nonprofits to apply for loans designed to help borrowers meet their salaries and operating costs and which can potentially be forgiven.
There is also a new program for restaurants and bars affected by the pandemic to receive $ 28.6 billion. Grants provide up to $ 10 million per business with a limit of $ 5 million per physical location. Grants can be used to cover salaries, rent, utilities, and other operational expenses.
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