The Texas economy is one of the most robust in the world. Wildly profitable companies and ingenious entrepreneurs call this state home, and what happens here influences businesses around the nation. Here’s a slice of the profits, losses, big deals, and backroom decisions happening across Texas this week.
AMR Corporation, the beleaguered parent company of American Airlines, announced this week that it plans to cut sixteen percent of its work force—as many as 13,000 jobs—to stop the financial bleeding that accelerated with its bankruptcy filing in November. The company has set a goal of reducing operating costs by at least $2 billion per year, and Reuters reported the “layoffs and other employee-related cuts would comprise more than half of