Advertisement
YOU ARE HERE: LAT HomeCollectionsWage Reductions
IN THE NEWS

Wage Reductions

BUSINESS
February 6, 2003 | From Bloomberg News
Delta Air Lines Inc. will reduce pay by 8% for most executives and by 10% for Chief Executive Leo Mullin and President Fred Reid on March 1, the company said in a memo to employees. Delta also may lower employee wages to stay competitive with pay at carriers that have filed for bankruptcy protection, Mullin said.
Advertisement
SPORTS
September 14, 1993 | T.J. SIMERS, TIMES STAFF WRITER
Wide receiver Henry Ellard of the Rams is probably in the final year of his football career, and he doesn't know it. Ellard, one of 33 players in NFL history to have caught more than 500 passes, will earn $850,000 this season. When the season ends, Ellard will become a free agent and, based on the recent off-season's payoffs to free agents with his credentials, he expects to become a millionaire. "No way," said an official from one NFL team. "Salary cap.
BUSINESS
April 11, 2005 | James F. Peltz, Times Staff Writer
The last thing United Airlines wants -- a strike -- is looming over the carrier as it tries to emerge from 2 1/2 years in bankruptcy protection. Two unions -- representing United's 6,800 mechanics and 19,500 other ground workers -- are threatening to strike if the airline persuades a U.S. Bankruptcy Court judge to annul their contracts and impose another round of wage and benefit cuts. United plans to seek the court's help if it can't negotiate long-term concessions with the workers on its own.
BUSINESS
March 1, 2005 | From Associated Press
Continental Airlines Inc. reached its goal of finding $500 million in annual savings by Monday with the announcement of tentative agreements for wage and benefit cuts with unions representing pilots, flight attendants, mechanics and dispatchers. The Houston-based carrier with 41,000 employees announced the tentative contract agreements Monday but revealed no details so that unions could spread the word directly to their members.
CALIFORNIA | LOCAL
June 11, 2009 | Paloma Esquivel
Key Orange County executives and elected officials will be asked to take a 5% pay cut as part of the ongoing effort to slash more than $1 billion from the county's budget, supervisors decided Wednesday. "We're trying to lead by example," said Supervisor Chris Norby. "The seriousness of the economic downturn has affected our budget. It is serious. People are hurting out there."
BUSINESS
December 9, 1985
Hewlett-Packard said its hourly workers in Sonoma County will return to full work schedules and full pay on Jan. 1 because of increased customer orders. Salaried and management employees also will be back on full schedules, but they will have to take wage reductions ranging from 5% to 10%.
NEWS
January 23, 1985 | United Press International
United Press International today released preliminary financial results for the fourth quarter of 1984 showing a profit of $1.1 million, a milestone for the news agency, which has posted deficits since 1963. UPI President Luis G. Nogales called the result "a dramatic and tangible step forward for UPI, demonstrating this company's ability to operate within its own means."
BUSINESS
March 18, 2003 | From Bloomberg News
UAL Corp. asked a Bankruptcy Court judge for permission to seek the rejection of labor contracts by May 1 unless employee unions agree to permanent wage reductions. Temporary cuts designed to save the airline about $70 million a month took effect in January and will expire May 1 without new agreements. UAL's United Airlines is seeking to reduce what were the industry's highest labor costs. U.S.
BUSINESS
January 22, 1987
The airline's new management plans wage reductions of 30% to save the financially troubled carrier an estimated $490 million a year, President Phil Bakes said. Leaders of two Eastern unions criticized the announcement as part of an effort to intimidate employees under the new ownership of Texas Air Corp., and they said they had no plans to take cuts on valid contracts. Bakes declined to speculate on what action the Miami-based carrier might take if the unions refuse to accept cuts.
Los Angeles Times Articles
|