Air Canada machinists ratify cost-cut deal
Jun 20, 2003, 3:42 pm
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Air Canada machinists ratify cost-cut deal
Jun 23, 2003, 6:57 am
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Machinists Back Air Canada Cost Cuts
Around 1400 machinists at insolvent Air Canada are expected to lose their jobs after union members voted to accept a new cost-cutting labor deal with the airline.
The carrier, which has been operating under creditor protection since April 1, is looking to cut CAD$3 billion (USD$2.2 billion) off its labor costs as it restructures.
Under the new contract, the machinists are giving up pay rises this year and next and have agreed a 1.5 percent pay cut for an agreed period of three years. They are also making other concessions over work rules and overtime payments.
http://news.airwise.com/stories/2003/06/1056371605.html
Around 1400 machinists at insolvent Air Canada are expected to lose their jobs after union members voted to accept a new cost-cutting labor deal with the airline.
The carrier, which has been operating under creditor protection since April 1, is looking to cut CAD$3 billion (USD$2.2 billion) off its labor costs as it restructures.
Under the new contract, the machinists are giving up pay rises this year and next and have agreed a 1.5 percent pay cut for an agreed period of three years. They are also making other concessions over work rules and overtime payments.
http://news.airwise.com/stories/2003/06/1056371605.html