Deadline looming for concessions for UPS pilots - Atlanta Business Chronicle:

ethelbertdiya3334.blogspot.com
The request for concessions comes as the globall recession has sapped shipping and cut into profitasfor Atlanta-based UPS (NYSE: UPS). UPS reported in Apriol its . A UPS Airlinezs spokesman told the Associated Pressthe world’s largest shipped has asked its pilotes for concessions valued at $40 million in 2009, $38 millio in 2010 and $53 millioj in 2011. Pilots have untill the first week of June to formallyt identifycost reductions. “Due to the severe downturn in theglobal economy, UPS package and freight volumes have been down somewhat markedly,” Mike spokesman for Louisville, Ky.-based UPS Airlinez said in an e-mail to Atlanta Businessx Chronicle.
“In response the recession, we have been analyzingt all aspects of our business to maximizse efficiency andminimize costs.” The concessions are in line with $1 billionm in wage cuts, frozen 401k contributionzs and concessions already made by UPS he said. Earlier this UPS retired its fleet of 44agin DC-8 freighters and the company said it has determined it has 300 more pilotds than are currently needed. In April, UPS approache its pilots union, the , to find ways to avoied furloughing300 pilots, or about 10 percent or its 3,000 aviators.
UPS suggested temporary wage and pension freezesa and the union has countered withearly retirements, voluntaryh leaves of absences, more job sharing and “reduced-pay-guarantee routes,” Mangeot said. “We understand the impact a furlough wouldd have onour people, so it is our fondesft hope that enough of our crewmemberas agree to help their fellow employees,” he said. “In the end, we must act to preservse the strength ofour business, and we hope to do so througj a win-win resolution of this issue.” UPS flies into more than 800 The shipper operates more than 200 aircraft and chartere more than 300 additional planes.
The movesw by UPS are not unusual in the current economic Rival (NYSE: FDX) announced April 13 it would pull 10 Airbus A310se and four MD-10s out of