Delta plan includes job and wage cuts
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The much-awaited &#39;Transformation Plan&#39; for Delta Air Lines Inc., one of Tampa International Airport&#39;s largest carrier, will include further job cuts, wage and benefit reductions and a new strategy that will help Delta revitalize its entire business.
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Delta Air Lines will cut up to 7,000 jobs, or 10 percent of its overall work force, during the next 18 months, company CEO Gerald Grinstein said Wednesday.
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ATLANTA - Delta Air Lines is axing up to 7,000 jobs, cutting employee wages and shedding its Dallas hub as part of a sweeping turnaround plan aimed at helping the nation's third largest carrier cope with high fuel costs and competition from low-fare rivals.    But even with those changes - part of a $5 billion cost-saving program - CEO Gerald Grinstein warned on Wednesday Delta would seek bankruptcy court protection if Delta can't slow the pace of pilot retirements by the end of September...
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The battered shares of Delta Air Lines Inc. surged nearly 9 percent yesterday after its pilots agreed to salary cuts to try to help the ailing carrier avoid
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Delta reached a tentative agreement with its pilots' union Wednesday night on wage and benefit cuts, averting a threatened bankruptcy filing, at least for now.
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Delta Air Lines is to cut wages by 10 percent and its chief executive will go unpaid for the rest of the year, but it still warned of bankruptcy within weeks unless more cuts are made.
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Delta Air Lines (DAL) is cutting the pay of executives, administrative staff and frontline employees by 10%, increasing the shared cost of health care coverage and making changes to retirement benefits as part of its turnaround plan.
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Delta Air Lines Inc. said it will cut pay 10 percent for executives and most other employees to help reduce costs as the company tries to avoid filing for bankruptcy protection.
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Delta Air Lines announced a massive restructuring plan that would cut 6,000 to 7,000 jobs and slash more costs, but nonetheless warned that bankruptcy remains &quot;a real possibility.
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Delta Air Lines Inc. (DAL.N: Quote, Profile, Research) said on Tuesday it will cut wages by 10 percent and its chief executive will go unpaid for the
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SAN FRANCISCO (CBS.MW) -- Delta Air Lines, attempting to avert bankruptcy, said Wednesday it aims to cut $5 billion in annual costs by slashing nearly 12 percent of its work force, dropping Dallas-Fort Worth as a hub, and trimming its fleet of planes.
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Cost cuts are part of its effort to avoid bankruptcy; CEO will skip salary for the remainder of &#39;04. CHICAGO  - Delta Air Lines said Tuesday it would reduce the pay of executives and frontline employees by 10 percent as of Jan.
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Delta will cut up to 10 percent of its work force over the next 18 months as part of a restructuring plan that the airline said would save $5 billion a year in costs by 2006.
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Delta Air Lines  on Wednesday said it plans to eliminate between 6,000 and 6,900 jobs during the next 18 months, implement a 10 percent across-the-board pay reduction and reduce employee benefits.
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The massive restructuring and cost-cutting plan Delta Air Lines introduced Wednesday should help the financially struggling carrier reinvent itself over the long haul, experts and industry insiders say.
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Delta Air Lines Inc.  Chief Executive Gerald Grinstein on Wednesday said his transformation plan for the struggling No. 3 U.S. airline would include 6,000 to 7,000 job cuts over the next 18 months and a dehubbing of its Dallas/Fort Worth operation.
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ATLANTA - Delta Air Lines will cut up to 7,000 jobs, reduce wages and pull back at its Dallas-Fort Worth airport hub as part of a sweeping restructuring plan that could still leave it vulnerable to bankruptcy, company CEO Gerald Grinstein said Wednesday.    The job cuts representing about 10 percent of its overall work force will come over the next 18 months, Grinstein said during a meeting with 300 of the company's middle managers...