WASHINGTON, June 6 (Reuters) - Delta Air Lines Inc (DAL.N:
Quote, expects to take a
$95 million charge in the current quarter for for its voluntary employee buyout program, the company disclosed on Friday.
The development comes on top of a $16 million charge the company took in the first quarter related to work force reduction efforts, Delta said in a filing with the Securities and Exchange Commission. Delta has accepted buyouts from more than 3,000 employees.
Delta is also taking an $8 million charge this quarter to close certain airport clubs.
In addition, Delta said other cost-saving efforts would result in other expenses.
"Additional charges are expected to be incurred in future quarters in connection with other announced initiatives," the company said.
These guys are going broke saving money !!!