Business & Finance
ANC Rental Corp., the parent of the Alamo and National car-rental chains, filed for protection from creditors under Chapter 11 of the federal bankruptcy code. The Fort Lauderdale, Fla.-based company has about 3,000 locations worldwide and does more than 90 percent of its business at airports, which have been hard-hit by the slump in travel since the Sept. 11 terrorist attacks.
Casio Computer Co., a leading maker of watches, calculators, cellphones, pagers, and laptop musical keyboards said it will cut 3,000 jobs by next March. The company is based in Tokyo.
Iberia Airlines presented its employees with a plan to cut more than 2,500 jobs, starting the clock ticking on a one-month negotiating timetable with their unions. The layoffs would affect both in-flight and ground crews, the Spanish carrier said.
Another 1,200 layoffs were announced by Global Crossing, the Bermuda-based high-speed network services giant, on top of the 2,000 jobs cut earlier this year. Global Crossing posted a third-quarter loss of $3.4 billion.