I really doubt AA is considering any acquisition/merger at this point. Their corporate culture and managements ego would make that very 'difficult'. (Look at USAir and AW)

I think the management trimming is in response to the APA. Because of the APAs' 'sink the ship' demands pointing out bloated management salaries and bonuses, the only option for AMR to keep shareholders happy is to trim some overhead prior to telling the pilots that AA can't afford to pay them more.

Just an opinion...