Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
(Atlanta-AP) -- Delta Air Lines is looking to reduce labor costs as it struggles through a prolonged travel slump. The company says it will trim the compensation of its executives and indicated that pilots' pay might be cut sometime in 2003.
Starting March first, chairman and chief executive Leo Mullin and president and chief operating officer Fred Reid will take 10 percent pay cuts. All employees at the vice president level and above -- roughly 50 people in all -- will take an eight percent cut.
Delta would not provide details about whether the cuts would come from salary, benefits or bonuses and it gave no estimate of how much money the company expects to save as a result.
(Copyright 2003 by The Associated Press. All Rights Reserved.)