American Airlines' parent is meeting with its unions this week to lay out cost cuts it wants to implement as part of its bankruptcy reorganization -- moves that could cost many of the company's 81,000 workers their jobs and a portion of their pension benefits.
Negotiations to avert the first phase of a transit strike in New York and hammer out a contract for 33,000 transport workers resumed on Saturday, according to a spokesman for the Transport Workers Union.
New York City was poised to be hit by a transit strike as the union representing bus and subway workers announced early Friday they had not been able to reach agreement with management after all-night talks.
If New York City bus and subway workers strike when their contract expires at 12:01 a.m. ET Friday, there will be "no winners," Mayor Michael Bloomberg said as he described the contingency plan to deal with a possible mass transit shutdown.