Pay cuts at United&#39;s parent company
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Executives at the Illinois-based UAL Corp., parent of bankrupt United Airlines, will share airline employees&#39; pain with pay cuts of 4 percent to 8 percent.
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The troubled airline&#39;s most recent offer includes a 16.5 percent pay cut and added flying time. By STEVE HUETTEL, Times Staff Writer.
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Many United Airlines employees face a dimmer career outlook after learning the airline proposes wage cuts, job cuts and pension terminations to help pare $2 billion from annual costs.
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MAN UNITED&#39;S share price has fallen by just over 2.5%, less than expected after the resignation of Malcolm Glazer&#39;s bankers JP Morgan.
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United Airlines' workers are getting formal details on how the bankrupt company wants to replace their traditional pension with a 401(k)-style benefit plan &#151; plus further steep reductions in pay and other benefits.
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The world&#39;s richest soccer club, Manchester United (MNU.L: Quote, Profile, Research) , has called off talks with US sports tycoon Malcolm Glazer over his proposed
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Business & money: Ailing car giants push union to agree pay cuts.
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Troubled airline US Airways says it is to cut pay and posts among its management and non-union workers.
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Bankrupt United Airlines said on Friday  it needs more labor cost cuts on top of any gains from  terminating employee pensions and expects to move toward  voiding its labor contracts in early November.
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US Airways' unions say the bankrupt airline is ''barking up the wrong tree&quot; as it seeks to ensure its solvency by imposing a 23 percent pay cut on its workers.
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United Airlines (UALAQ.OB: Quote, Profile, Research) , which is trying to save $725 million a year, has offered its pilots two ways to cut their salaries, the New York Times reported on Tuesday.
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UAL Corp.  on Monday announced new cuts in employees' salaries as the parent of United Airlines looks to make &#36;112 million in annual savings and emerge from bankruptcy protection.
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Manchester United plan to sit down with their two biggest shareholders and put an end to months of speculation over the ownership of the world's richest soccer club.
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United Airlines&#39; workers are getting formal details on how the bankrupt company wants to replace their traditional pension with a 401(k)-style benefit plan - plus further steep reductions in pay and other benefits.
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Delta Air Lines' chief executive yesterday said he is declining his six-figure salary for the rest of the year as the airline cuts by 10 percent the pay of executives, ticket and gate agents, and other nonunion workers.
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Delta Air Lines DAL.N on Tuesday said  it would reduce the pay of executives and frontline employees  by 10 percent as of Jan. 1 as part of its drive to slash costs  and avoid bankruptcy.
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US Airways (UAIR.O), struggling to avoid a second bankruptcy, has asked pilots for a 16.5 percent pay cut, USA Today reported in its Friday editions.