Thu, Jun 15, 2006
Aims To Save $400 Million Annually
Airlines workers who've watched your salaries decline and your
pensions go away: management is about to feel your pain.
Reuters reports that United's parent company, UAL, says it will
cut at least a thousand management positions -- more than 10
percent of the front office work force -- in an effort to save
another $100 million a year in salaries and benefits. The move will
get United about one-quarter of the way to its goal of cutting $400
"As we near the end of our second quarter, our cost performance
is somewhat better than the guidance we provided," said United CEO
Glenn Tilton. "We are going to reduce our costs further."
Tilton told the Merrill Lynch Global Transportation Conference
this week that he plans to cut about $200 million dollars out of
the budget for outsourced services... slash another $60 million
from marketing, and increase operational efficiencies to save yet
another $40 million dollars.
Sound tough? Well, you gotta hand it to United. In bankruptcy,
the airline cut about $7 billion in annual costs. $400 million
should be a comparative walk in the park.
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