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Wage Reductions

CALIFORNIA | LOCAL
March 2, 2004 | Seema Mehta, Times Staff Writer
Riverside City Council members tonight will discuss cutting their own salaries by more than a third. The proposal by newly elected Councilman Dom Betro calls for rolling back a pay increase that was approved in late 2002. If Betro is successful, which appears unlikely, the city will save nearly $100,000 annually.
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CALIFORNIA | LOCAL
December 4, 2003 | From a Times Staff Writer
The Lynwood City Council on Wednesday night postponed a decision on whether to slash members' salaries by nearly half. The city's council members are among the highest paid part-time politicians in the state, and many community activists have called for pay cuts. For years, council members have had $804 monthly salaries that, by state law, can be raised only to reflect cost-of-living adjustments.
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.
BUSINESS
February 5, 2003 | From Times Wire Services
American Airlines pleaded with employees Tuesday to make steep cuts in wages, benefits and work rules to save $1.8 billion annually, stressing that the company's livelihood was at stake. "Our financial results make it abundantly clear that American's future cannot be assured until ways are found to significantly lower our labor and other costs," the company said after a private meeting with labor leaders.
BUSINESS
January 11, 2003 | From Reuters
A U.S. bankruptcy judge Friday ordered temporary 13% pay cuts for United Airlines' unionized machinists, buying the airline more time to negotiate broad concessions from its entire unionized workforce. United, a unit of UAL Corp. and the world's second-largest airline, filed for bankruptcy protection Dec. 9. Since then, four of the carrier's five unions have agreed to temporary pay cuts to help the airline reorganize and meet specific financing requirements by lenders.
BUSINESS
January 8, 2003 | From Associated Press
United Airlines' pilots have approved the 29% interim pay cuts proposed by the carrier as part of its push to slash costs under bankruptcy protection. The 8,800 pilots are the first of United's employee groups to approve wage cuts and, as the highest-paid, will see the most taken out of their paychecks. Shares of United parent UAL Corp. rose 14 cents to $1.49 on the NYSE.
BUSINESS
December 31, 2002 | From Reuters
Union machinists for United Airlines will challenge in court the company's attempt to impose a 13% temporary pay cut, a lawyer for the group said. United parent UAL Corp. filed for bankruptcy protection Dec. 9. Unions representing pilots, flight attendants, flight dispatchers and meteorologists have tentatively agreed to accept stiff pay cuts. However, the International Assn.
BUSINESS
August 16, 2002 | From Reuters
US Airways Group Inc. has asked its mechanics to absorb an initial wage cut and other concessions to speed its bankruptcy restructuring and boost its chances of getting government-backed loans, the mechanics' union said. Mechanics and others who earn more than $14.42 an hour would take a 6.8% wage cut upfront, according to a US Airways proposal revealed by the International Assn. of Machinists.
BUSINESS
June 21, 2002 | Reuters
Directors of United Airlines parent UAL Corp. approved an agreement with pilots that includes 10% pay cuts and other givebacks as part of the financial recovery plan for the struggling airline. United said it expected to save about $520 million over three years from the pilot wage reductions. The board also approved the terms of cuts for salaried and management employees. United also said talks were continuing with US Airways Group Inc. about a possible code share.
BUSINESS
October 24, 2001 | Richard Verrier
In an ongoing effort to cut costs, Walt Disney World is offering salaried employees at the Florida resort the option of working a four-day week. A Walt Disney Co. spokeswoman said the offer was made to 7,400 salaried employees during the last two weeks. The offers are being made as an alternative to layoffs, which might not occur even if the company does not get the desired number of applicants. Employees who take the offer will be able to keep insurance and retirement benefits.
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