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Thu, Jun 15, 2006

United Airlines To Slash 1000 Jobs

Aims To Save $400 Million Annually

Attention, United 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 million annually.

"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.

FMI: www.united.com

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