American Airlines is slated to cut nearly 7,000 jobs as a cost-saving measure. The airline says it will try to make many of these cuts voluntary, by allowing employees to retire early. Shares of the airline rose at the layoff news.

American Airlines is not the only air operator to make large staffing cuts in the wake of rising oil prices. According to The New York Times, United States-based carriers have announced 30,000 job cuts so far this year.The New York Times: Big Job Cuts Announced at American (July 3, 2008)