US Air to cut jobs to save $45 million
By Carolyn Pritchard, CBS MarketWatch.com
Last Update: 9:11 PM ET Oct. 4, 2004
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SAN FRANCISCO (CBS.MW) - US Airways Group will cut hundreds of management and nonunion jobs and impose wage and benefit cuts in a bid to save more than $45 million a year, according to reports published late Monday.
The bankrupt carrier's moves will affect all 3,700 management and nonunion workers, Reuters reported, citing a special bulletin to US Airways employees.
The company's 10 most senior officers will receive a 10 percent pay cut and a 25 percent cut to retirement benefits, according to the Associated Press.
Vice presidents and managing directors will take a 7.5 percent pay cut, the AP said, while other management employees face a 5 percent pay cut.
http://biz.yahoo.com/rb/041004/airlines_usairways_1.html
They never cease to amaze me...
By Carolyn Pritchard, CBS MarketWatch.com
Last Update: 9:11 PM ET Oct. 4, 2004
E-mail it | Print | Alert | Reprint | RSS
SAN FRANCISCO (CBS.MW) - US Airways Group will cut hundreds of management and nonunion jobs and impose wage and benefit cuts in a bid to save more than $45 million a year, according to reports published late Monday.
The bankrupt carrier's moves will affect all 3,700 management and nonunion workers, Reuters reported, citing a special bulletin to US Airways employees.
The company's 10 most senior officers will receive a 10 percent pay cut and a 25 percent cut to retirement benefits, according to the Associated Press.
Vice presidents and managing directors will take a 7.5 percent pay cut, the AP said, while other management employees face a 5 percent pay cut.
http://biz.yahoo.com/rb/041004/airlines_usairways_1.html
They never cease to amaze me...