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Fri, Aug 20, 2004

Delta Looks At Restructuring

Job Cuts Could Be In Store

Financially troubled Delta Airlines appears ready to make good on its promise of a major restructuring that could leave a lot of its workers out in the cold.

In a memo to employees sent Wednesday, Delta CEO Gerald Grinstein said his plan to reinvent the airline comes with a hefty price tag. "Regrettably, one of the consequences will be fewer jobs and additional changes to pay and benefits for all our employees as we make operational changes to achieve the necessary cost savings," Grinstein wrote. He was quoted by Reuters.

It's no secret that cutting labor is high on Grinstein's list of things to do as he tries to save the world's number-three airline. Grinstein met with union pilots Thursday in an effort to get $1 billion in concessions from them -- half of what the airline says it needs this year to stave off bankruptcy.

The union, which has steadfastly refused to make major the concessions Delta says it needs to stay afloat, says it's studying the company proposal.

FMI: www.delta.com, www.alpa.org

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