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NEW YORK - Shares of discount carrier AirTran Airways may trade actively Tuesday, following news of 480 job cuts, or more than 5 percent of the company's staff.
The Orlando, Fla.-based airline will eliminate 180 pilot jobs and 300 flight attendant positions, effective Sept. 6.
Meanwhile, IndyMac Bancorp Inc. has stopped accepting new loan submissions in its retail and wholesale forward mortgage lending channels.
Also, the Pasadena, Calif.-based company will cut 3,800 jobs, or more than half its staff.
Apollo Group Inc., a for-profit education company that operates the University of Phoenix, named Charles B. Edelstein as its chief executive, effective Aug. 26.
The company has been without a permanent CEO since Todd S. Nelson left Apollo in 2006 during an investigation of the company's stock option awards practices.
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