Manufacturing Industry
US Airways to cut executive payroll
Airline Industry Information, Sept 29, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Bankrupt US Airways is set to slash its executive payroll by 20% by reducing wages and benefits and cutting jobs among its 3,000 managers.
Details of the new plan are expected before the company's bankruptcy hearing on 7 October 2004. A spokesperson for the airline confirmed that it was looking to cut about USD45m from its USD201m executive payroll but would not elaborate on the plan.
US Airways has already filed a motion in court to enforce an emergency pay cut on its union workers in an attempt to save cash and cope with the rising price of fuel, reports Reuters.
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