Bankruptcy Returns as a Tool to Crack Unions | Labor Notes

23 Mar

American also wants to lay off 13,000 workers—16 percent of the workforce. It will try to end pensions and retiree health care for 130,000 current and former workers, offloading $9 billion in unfunded pension obligations to a federal insurance agency.

After clawing out $1.8 billion in concessions in 2003, American says labor costs must drop by another 20 percent.

The airline industry has seen more than 150 bankruptcies since the industry was deregulated in 1978, with at least 22 since September 11, 2001.

Hostess, the maker of Wonder Bread and Twinkies, declared bankruptcy in January as well.

via Bankruptcy Returns as a Tool to Crack Unions | Labor Notes.

 

Sound familiar?  We’re broke, give us back everything you have worked your whole life for…..djm

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