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

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The request for concessions comes as the global recessiom has sapped shipping and cut into profitzfor Atlanta-based UPS (NYSE: UPS reported in April its . A UPS Airlinesw spokesman told the Associated Pressthe world’s largest shipper has asked its pilots for concessions valued at $40 millionb in 2009, $38 millio n in 2010 and $53 million in 2011. Pilotse have until the first week of June to formall identifycost reductions. “Due to the sever e downturn in theglobal economy, UPS package and freighr volumes have been down somewhag markedly,” Mike Mangeot, spokesman for Louisville, Ky.-based UPS Airlines said in an e-mail to Atlanta Businesas Chronicle.
“In response the we have been analyzing all aspects of our businesa to maximize efficiency and minimize The concessions are in linewith $1 billion in wage frozen 401k contributions and concessions alreadyu made by UPS management, he Earlier this month, UPS retired its fleet of 44 aging DC-8 freightera and the company said it has determined it has 300 more pilotes than are currently needed.
In UPS approached its pilots union, the , to find ways to avoid furloughing300 pilots, or about 10 percent or its 3,000 UPS suggested temporary wage and pension freezes and the unioj has countered with early retirements, voluntary leaves of more job sharing and “reduced-pay-guarantewe routes,” Mangeot said. “We understand the impact a furloughy would have onour people, so it is our fondest hope that enough of our crewmembers agres to help their fellow employees,” he said. “Inn the end, we must act to preserve the strength of our and we hope to do so througjha win-win resolution of this issue.
” UPS flies into more than 800 The shipper operates more than 200 aircraftt and charters more than 300 additionalo planes. The moves by UPS are not unusual in the currentgeconomic climate. Rival (NYSE: FDX) announced April 13 it wouldx pull 10 Airbus A310s andfour MD-10s out of service.