Just in Time for the Election (or a Bailout)

American and United Airlines will bring back workers if they get more aid. Otherwise, Say Goodbye to 32,000 Jobs. 

“We implore our elected leaders to reach a compromise, get a deal done now, and save jobs,” United said Wednesday night. The airline said over 13,400 employees will be out of a job starting Thursday.

 American, which has planned deeper cuts than any other carrier, also told Treasury Secretary Steven Mnuchin that it will bring its 19,000 workers back if lawmakers can approve more aid in the next few days, Chief Executive Doug Parker told employees in a letter. 

Mr. Mnuchin and House Speaker Nancy Pelosi (D., Calif.) renewed their stalled negotiations this week, though they failed to reach an agreement Wednesday afternoon. Still, Democrats and the White House continued to seek common ground. The House of Representatives opted to delay a vote on a $2.2 trillion coronavirus-aid package, which Democratic aides said would allow the two sides to keep talking. As it stands now, the legislation has no chance of passing in the Senate.

3,800 Layoffs at Allstate

With people driving fewer miles and traffic accidents down, Allstate to Lay Off 3,800 Employees. That’s about 8% of the insurer’s approximately 46,000 workers.

Shell to Cut Up to 9,000 Jobs

It’s another tough quarter as the pandemic continues to sap demand for oil.

If people aren’t driving or flying what’s an energy company to do?

Here’s the obvious answer: Shell to Cut Up to 9,000 Jobs.

The update from Shell gives a first glimpse at how the world’s biggest oil companies have continued to struggle in the most recent quarter. The pandemic has sapped demand for oil, sending prices tumbling and hitting profits hard. That has already prompted Shell to write down

Law360 (October 1, 2020, 7:20 PM EDT) — An Alabama federal judge let Allstate off the hook in two proposed ERISA class actions claiming the insurer wrongly terminated lifetime insurance benefits for certain retirees, ruling the insurer was within its rights.

In her opinion Wednesday, U.S. District Judge Emily C. Marks granted Allstate Insurance Co. summary judgment in the Employee Retirement Income Security Act suits brought by former employees challenging the insurer’s decision to cancel retiree life insurance benefits.

Judge Marks found the governing plan documents unambiguously reserved the insurer’s ability to modify the benefits and explicitly said plan participants didn’t have vested rights. Moreover, the judge agreed with…

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Sep 30, 2020 (WiredRelease via Comtex) —
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