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Continental cutting pilots....

  • Thread starter Thread starter Flic1
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Flic1

Well-known member
Joined
Sep 7, 2002
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Continental to Cut 1,200 Jobs, Costs
Wednesday March 19, 6:36 pm ET


HOUSTON (Reuters) - Continental Airlines Inc. (NYSE:CAL - News), the No. 5 U.S. carrier, on Wednesday announced $500 million of cost cuts, including 1,200 jobs by the end of the year.

Continental said it will cut about 125 pilots, 500 reservation agents, 350 airport agents, and 225 other employees by year end. It said it will eliminate as many of the jobs as possible through voluntary exits, leaves of absences and attrition. It said it is now asking for pay cuts.

"We need $500 million in annual cost savings and revenue generation to permit us to be a survivor during the worst financial crisis in aviation history," said Chief Executive Gordon Bethune in a press statement. "If the anticipated war in Iraq is prolonged, or if other events further degrade revenue or increase costs, we will need to find additional savings or ways to generate more revenue."

Big U.S. airlines have lost nearly $20 billion since the end of 2000. The Air Transport Association, which represents them, said an Iraq war might lead to $10.7 billion of annual losses and another 70,000 job cuts.
 
My numbers show 147 age-60 retirements at CAL mainline during 2003. The stated number of 125 over the rest of the year jives with that, and likely means (IMHO) no new furloughs. But it's been like that for a year and a half, no recalls but normal attrition. The paycuts wil certainly suck. My regrets.

For the record retirements over the next few years:
2003: 147
2004: 112
2005: 161
2006: 249
2007: 322
2008: 246
 
Last edited:
Cardinal,

Your avatar ROCKS!!!

...and actually the Company won't give the MEC a straight answer whether it's 125 on top of regular retirements or that's already factored in.

I think they're gonna offer an early-out to all CAL guys age 58 and higher. They'd be fools not to take it.
 
A wonderful Israeli creature just to piss off 350Driver :) The early outs would help the seniority pinch in the upper ranks, and get people off the street a little faster. We'll hope and see...
 
If they are to fulough in addition to retirements are the fuloughees eligible to flow down into CoEx? I hope this dosen't make the recall situation at CoEx even worse.
 

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