race#53
Well-known member
- Joined
- Aug 19, 2002
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- 183
This was 9 years ago;
FORT WORTH, Texas — American Airlines will lay off 2,500 pilots over the next year as it cuts costs in hopes of staving off bankruptcy, union officials said Tuesday.
About 21 percent of American's 12,000 pilots will lose their jobs, with cuts beginning at the bottom of the seniority ladder. Pilots can be recalled within two years if the airline, the world's largest, adds jobs.
The cuts were announced by officials with the Allied Pilots Association, which has agreed to $660 million in annual concessions to help save the company from bankruptcy.
Pilots' salaries also will be slashed 23 percent beginning May 1 and 17 percent annually over the rest of the six-year contract, said John Darrah, the union president. The plan also includes profit sharing and stock options.
FORT WORTH, Texas — American Airlines will lay off 2,500 pilots over the next year as it cuts costs in hopes of staving off bankruptcy, union officials said Tuesday.
About 21 percent of American's 12,000 pilots will lose their jobs, with cuts beginning at the bottom of the seniority ladder. Pilots can be recalled within two years if the airline, the world's largest, adds jobs.
The cuts were announced by officials with the Allied Pilots Association, which has agreed to $660 million in annual concessions to help save the company from bankruptcy.
Pilots' salaries also will be slashed 23 percent beginning May 1 and 17 percent annually over the rest of the six-year contract, said John Darrah, the union president. The plan also includes profit sharing and stock options.
