Delta Air Lines Says No Furloughs Coming Except for Pilots: Here's Why
Last month, Delta Air Lines (NYSE: DAL) notified its pilots that it expected to furlough 1,941 of them this fall after the CARES Act payroll support program expires. Despite demand remaining incredibly weak, those will be the only furloughs happening at Delta, according to a recent memo from CEO Ed Bastian. Let's take a look at why the airline giant's tens of thousands of other employees don't have to worry about their jobs for the foreseeable future.
Like virtually all of its peers, Delta Air Lines has implemented a variety of voluntary programs to manage staffing levels this year. The uptake has been phenomenal.
Notably, about 20% of Delta's employees -- of which there were roughly 91,000 at the beginning of 2020 -- have taken early retirement packages. Additionally, more than 40,000 Delta staff volunteered for short- or long-term unpaid leaves of absence, usually with a continuation of travel benefits and healthcare coverage.
Source Fool.com
