Delta sees up to $3.3b charge on voluntary departures
Delta will take a charge of as much as $3.3b to cover the costs of early retirement and voluntary separation plans for employees, as the carrier scales back operations amid a plunge in travel. The charge will be recorded in the third quarter and most workers will leave Aug. 1, the carrier said in a regulatory filing Wednesday. At least 17,000 employees have signed up for the plans, excluding pilots who have additional days to decide. As much as $600m of the amount will be in cash payments. The Q3 charge could be as low as $2.7b, Delta said. Another 45,000 workers have taken voluntary unpaid leave, helping the carrier to reduce operating expenses last quarter by 53%.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-07-16/sky/delta-sees-up-to-3-3b-charge-on-voluntary-departures
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Delta sees up to $3.3b charge on voluntary departures
Delta will take a charge of as much as $3.3b to cover the costs of early retirement and voluntary separation plans for employees, as the carrier scales back operations amid a plunge in travel. The charge will be recorded in the third quarter and most workers will leave Aug. 1, the carrier said in a regulatory filing Wednesday. At least 17,000 employees have signed up for the plans, excluding pilots who have additional days to decide. As much as $600m of the amount will be in cash payments. The Q3 charge could be as low as $2.7b, Delta said. Another 45,000 workers have taken voluntary unpaid leave, helping the carrier to reduce operating expenses last quarter by 53%.<br/>
