Air Transport World

Delta Air Lines.(North America report)(Brief Article)

Delta Air Lines will reduce wages and trim health care and vacation benefits for executives, supervisory and administrative employees by 10% in 2005 as part of its transformation plan that aims to achieve $5 billion in cost savings by 2006. CEO Gerald Grinstein said he is declining his salary and will not be paid for the remainder of 2004. The pay cuts and other changes go into effect Jan. 1.

Delta also will offer voluntary exit programs in an effort to minimize the number of involuntary layoffs necessary to achieve the 6,000-7,000 job reductions included in its transformation plan. …

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