UAL Slashes Salaries
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United Airlines parent UAL (UALAQ:OTC BB - news - research) set plans to cut nonunion workers&#39; pay as part of an effort to slash costs and emerge from bankruptcy protection.
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Bankrupt United Airlines (UALAQ.OB: Quote, Profile, Research) said on Friday it needs 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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The head of UAL Corp.'s United Airlines said on Thursday the airline's restructuring plan would lead to a significant number of job losses, but it was not clear how many.
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US Airways plans to cut its executive payroll by 20 percent, reducing pay and benefits for its 3,000 managers and eliminating positions, said a newspaper report Wednesday.
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Pilots at UAL Corp. UALAQ.OB,  parent  of bankrupt United Airlines, on Thursday overwhelmingly  ratified a new contract which will allow the airline to cut  wages and get rid of traditional pensions but will give the  pilots future financial concessions.
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Bankrupt UAL Corp. UALAQ.OB, parent  of United Airlines, on Tuesday reported a net loss of $114  million, including $14 million in reorganization expenses.
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CHICAGO -- United Airlines said Wednesday that it needs to cut more jobs as it works on climbing out of bankruptcy. But the nation&#39;s No.
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United Airlines parent UAL Corp. reported a $53 million loss for the fourth quarter Tuesday on a sharp rise in the price of fuel and bad weather that forced a raft of holiday flight cancellations.
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US Airways announced plans to cut $45 million a year in pay and benefits to roughly 3,700 management employees, a move the airline hopes will convince its union employees to collectively accept $950 million in annual cost cuts.
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The pilots and flight attendants at  bankrupt UAL Corp. UALAQ.OB on Monday ratified wage-cut deals  worth $311 million annually to United Airlines, possibly moving  the carrier closer to a Chapter 11 exit.
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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 asked a bankruptcy judge yesterday to cancel labor contracts with three of its unions and impose much lower pay so it
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ALEXANDRIA, Va. - A bankruptcy judge granted US Airways authority yesterday to immediately cut the pay of its union workers by 21 percent through mid-February, saying the airline&#39;s situation is so dire that urgent action must be taken.
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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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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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US Airways UAIRQ.OB plans to cut  its executive payroll by 20 percent, reducing pay and benefits  for its 3,000 managers and eliminating positions, The  Washington Post reported on Wednesday.
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UFJ Holdings, a merger target of two major Japanese banks, slashed workers&#39; paychecks Friday and sharply lowered its earnings outlook for the current fiscal half-year as it struggles to cut costs and ease a ballooning debt burden.