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Wednesday, July 23, 2008
 

United Airlines to slash 7,000 jobs by 2009


UAL's United Airlines, one of the world's largest carriers, said Tuesday that it would cut more than 7,000 jobs by the end of 2009 to stem losses from record fuel bills.

The reductions consist of 5,500 aircraft and airport workers and 1,500 previously announced salaried positions, UAL said in a statement. The Chicago-based carrier disclosed the cuts as it reported a second-quarter net loss of $2.73 billion to write down the value of assets.

UAL's deficit pushed the collective loss among the three biggest U.S. carriers to $5.22 billion, following last week's reports by AMR Corp.'s American Airlines and Delta Air Lines. Jet fuel averaged 80 percent more than a year earlier, outpacing fare increases and new fees.

"Our industry is challenged as never before by the unrelenting price of oil," Glenn Tilton, the chief executive, said in the statement.

Excluding $2.6 billion in charges for the writedown and severance, the loss was $151 million, or $1.19 a share, UAL said. Year-earlier earnings were $274 million, or $1.83 a share.

Source: nytimes.com

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Friday, June 06, 2008
 

Continental becomes latest U.S. airline to cut service


Continental Airlines said Thursday that it would cut 3,000 jobs and retire 67 Boeing aircraft from its fleet, becoming the latest airline to announce capacity reductions in the face of high prices for jet fuel.

nytimes.com

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Monday, June 02, 2008
 

Over 3,000 Delta employees take severance


Delta Air Lines Inc. is cutting at least 1,000 more jobs than it previously planned because the number of employees who accepted voluntary severance offers exceeded the company's goal.

A spokeswoman for the Atlanta-based carrier, Betsy Talton, said Friday that more than 3,000 people took the package, and Delta will accept all of the volunteers.

Delta said on March 18 that it would offer voluntary severance payouts to roughly 30,000 employees - more than half its work force - and cut U.S. capacity by an extra 5%.

Executives said then that the airline's goal was to cut 2,000 frontline, administrative and management jobs through the severance program, attrition and other initiatives.

Talton also said at the time that the company would accept more job cuts, if more than 2,000 employees took voluntary severance.

"We'll be working through plans to ensure our operations are covered and there could be future hiring for operational needs, depending on capacity needed," Talton said Friday in an e-mail to The Associated Press.

One part of the severance program was for employees who were already eligible for retirement, or for those whose age and years of service added up to at least 60, with 10 or more years of service. The other part of the program was an "early-out" offer for frontline employees - such as flight attendants and gate and ticket agents - with 10 or more years of service and for administrative and management employees with one or more years of service.

Besides severance payments, employees who take the offers are entitled to travel privileges and additional benefits to manage career transitions.

Delta had 55,044 total full-time employees as of the end of last year. Excluding the current round of cuts, Delta has announced it would cut up to 33,000 jobs since 2001.

Several major airlines in recent months have announced they are cutting domestic capacity, deferring plane orders or shedding jobs because of record fuel prices, which are currently near $130 a barrel. To top of page

Source: money.cnn.com

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Thursday, March 15, 2007
 

Airbus protests due across Europe


Tens of thousands of Airbus workers are expected to take to the streets on Friday to vent their anger at the plane manufacturer's plans to cut 10,000 jobs.

bbc.co.uk

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