Word: wages
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Dates: during 1980-1989
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Union sources claimed that they had already offered deep concessions to Continental. Pilots, they said, had agreed to give up $60 million in wages, flight attendants $40 million. Said Pilot Paul Eckel: "Sure we have an inflated wage structure, but there's a right way and a wrong way to correct that...
Borman has asked Eastern employees for wage concessions in the past, and they have delivered, giving up possibly more than employees of any other airline. It is unclear whether workers will come around again. Borman, say insiders, has become increasingly aloof and tightlipped, and resentment toward him is growing throughout East- ern. Said Al Hanson, a union spokesman at the airline: "This is a manufactured situation. It is time for Borman to exit; he's become totally noncredible." Borman has given his employees until Oct. 12 to agree to lower wages...
...looking at still other ways to reduce labor costs. Trans World Corp. last week was considering spinning off its money-losing TWA subsidiary so that the airline could face its problems alone. Western is offering one-fourth of the company's stock to employees in return for wage concessions...
Lorenzo claims that Continental's wage rates were more than just burdensome. His high-cost airline simply could not compete with the low-cost carriers. An unforeseen consequence of deregulation had given the new, nonunion airlines an important cost advantage over the old ones, and Lorenzo believed that he had no choice but to take drastic steps to reduce Continental's costs. Says he: "Some very, very brutal things have happened to this industry. I have the job of trying to steer through some stormy waters." But if Continental is successful in breaking its union contracts through bankruptcy...
...have got to give me a job." But it was not until 15 years later, after she had divorced Field and headed north to Alaska in a station wagon, that she at last broke into the ranks of working journalists, as librarian of the Anchorage Daily News at a wage of $2 an hour. She was not impelled by financial needs; she just had her mind set upon having a career. The next year, she married Lawrence Fanning, a former Field deputy, and together they bought the Anchorage paper...