Houston to lose 1,500 jobs after new airline merger

The United and Continental Airline merger will cost 1,500 Houston residents their jobs.When United Airlines and Continental Airlines agreed to merge companies last May, many involved with the move were optimistic. However, a recent report in the Houston Chronicle detailed how the region will be negatively affected.Due to the merger, as many as 1,500 workers will lose their jobs in the company's corporate offices located in downtown Houston, a spokesperson for United relayed.United's corporate headquarters are located in Chicago. When the merger was initially agreed upon, Continental had a worker base of nearly 3,000 at its corporate offices in Houston.”To date, we've identified 1,500 corporate positions that will remain downtown. The process is still ongoing,” said Mary Clark, spokesperson for United.With the potential layoffs, the Houston real estate market could take a hit, as fewer buyers might now be interested in available properties. Furthermore, those being laid off that have homes might not be able to afford their residence any longer.A recent report from the U.S. Bureau of Labor Statistics showed that Houston's financial sector was one of the 100 hardest hit job markets in the country, losing 46,000 positions during the last three years.?Courtesy of 2M Realty News

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