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What happens when an FO busts his at initial training with a company??? 
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Its pretty hard to "bust" out of  initial training at a company. For the most part it is train to proficency so you have to mess up multiple times to fail out of the program. However from time to time at every company there are those that do not make it. I believe most places have a "3 strikes rule" meaning you have to be unsat in 3 different areas of training IE indoc/systems test, sim training, checkride, IOE. Most FO checkrides are train to proficency from what I know. I heard at most places it used to be one strike and your out meaning if you didnt pass your systems test, checkride, or IOE you were gone. Now you get more than one chance and to fail a checkride is pretty hard when its train to proficency. If you do wash out though you are asked to resign or they have no choice but termination. If you leave with a good attitude and have special circumstances i have heard of people returning after a year and successfully completing the program. It isnt impossible to get a job somewhere else but you have to be ready to talk about what happened. As long as you study hard, know the flows/callouts/profiles you shouldnt have much trouble getting through.