Quick News Saturday morning 24 Sep 2005

September 24, 2005 by SwizStick  
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Delta plans to cut 17% of its work force as part of its 2 year plan to return to profitable operations. :

The plan, announced in a memo to Delta employees, is expected to deliver $3 billion in annual financial benefits by year-end 2007 — on top of the $5 billion already slated for next year.
Of that $3 billion, $930 million is expected to come from reduced employment costs: $325 million from Delta pilots and $605 million from the airline’s non-pilot work force.
The 7,000 to 9,000 job cuts will come from the 52,000 people employed at Delta’s flagship airline and not at any of its affiliated airlines, spokeswoman Chris Kelly told The Associated Press.
“It’s about time they got aggressive,” Helane Becker, a securities analyst with Benchmark Co. in New York, said in an e-mail to Bloomberg News. “Had they done this last year, or 18 months ago even, they wouldn’t be in Chapter 11.”

Ouch ! Read the whole thing.

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