United Airlines (UAUA) announced plans Monday to lay off 950 pilots — about 15% of its total — becoming the first big U.S. carrier to impose job cuts on cockpit crews.

The reductions will likely be followed at other U.S. carriers as they race to cut costs, fleets and payrolls in response to record jet fuel prices near $4 a gallon. Industry analysts warn that high fuel prices will push some big U.S. airlines into bankruptcy and perhaps liquidation.

A recent study by Airline Forecasts predicts that oil prices of $130 to $140 a barrel could result in the loss of 75,000 to 85,000 jobs in the U.S. airline industry, including about 11,500 pilot jobs.

-from USA Today

Hang on! This summer is going to be bad, not just for pilots, but also for travelers. Hope nobody is commuting....