Continental Airlines May Eliminate 4,000 Jobs: The Houston-based carrier expects to cut its work force by perhaps 10% as it weeds out unprofitable routes. Reductions will be achieved through early retirements, leaves of absence, ordinary attrition and some layoffs, a spokesman said. Continental said the cuts stem from a plan it announced last year to eliminate the Airbus A-300 from its fleet and reroute its low-traffic routes to the East Coast. The airline, which dropped 7% of its flights and grounded eight of its Airbus A-300 jets Tuesday, plans to cut capacity about 10% this year. It lost $90 million during the first nine months of 1994.