In what amounts to a significant concession, bankrupt Northwest Airlines Corp. has reportedly retreated from an earlier demand to staff overseas flights with mainly non-U.S flight attendants, according to the airline’s Professional Flight Attendants Association.
Despite the looming threat of a union strike, Tower Automotive Inc. pressed on with its quest to reject collective bargaining agreements on Monday, with the auto parts maker claiming that it would not be able to emerge from Chapter 11 proceedings if the contracts were upheld.
Four banks have been subpoenaed in connection with a federal investigation into whether Honolulu's Aloha Airlines illegally used employee pension funds to pay off bank loans prior to its Chapter 11 bankruptcy filing in December 2004.
In the footsteps of the United Auto Workers union and the Pension Benefit Guaranty Corp., General Motors Corp. has made a bid to secure a seat on the creditors’ committee of scandal-ridden auto parts giant Delphi Corp., arguing that its appointment would “help to facilitate a consensual resolution.”
Looking to alleviate defense costs for several employees mired in class action securities litigation, bankrupt power company Calpine has asked a bankruptcy court judge to allow the company’s insurers to cover the litigation expenses so employees can focus on turning around the ailing company.
Delta Airlines headed back to bankruptcy court this week, this time to defend its proposed severance package for company officers and directors. The plan has come under fire from the Delta pilot’s union, which asked the court to reject the $14.2 million proposal.
Enron Corp.’s workers and retirees will receive approximately $134 million under the defunct energy company’s settlement of government and employee claims, the U.S. Department of Labor announced.
Pilots for Northwest Airlines will decide whether or not to strike later in the month, casting their votes today about a proposed work stoppage in response to the airline’s proposal to end the union contract in favor of cheaper labor.
With its disgruntled pilots union a gathering storm, Delta Air Lines Inc. offered this week to pay pilots $300 million in the event that it cuts its $1.89 billion pilot pension plan, although the embattled carrier has yet to decide whether it will do so.
Despite heated opposition from its flight attendants union, an interim pay cut agreement between embattled Northwest Airlines Corp. and the union has been extended while longer-term concessionary contracts are negotiated.
An executive bonus plan that could pay out up to $500 million to company executives has raised the ire of rank-and-file employees at bankrupt auto parts maker Delphi, who are threatening to strike over the plan.
In a bid to prevent a potential strike by its flight attendants union, Northwest Airlines has asked a bankruptcy judge to extend a pact between the company and its workers. But the union has refused to extend the deadline of the agreement, which expires next week.
Northwest Airlines flight attendants offered this week to give up 1,553 jobs and accept a 22.5% pay cut, but the embattled airline's management remains tight-lipped as hearings on its request to scrap employee collective bargaining agreements continue.
Hourly workers at Tower Automotive have voted to authorize a strike as soon as next month if the bankruptcy judge overseeing the company’s reorganization plan okays its request to cut benefits and cancel labor contracts.
The United Auto Workers union has won a long-standing bid to secure a nonvoting seat on the creditors committee for scandal-ridden auto parts giant Delphi Corp. in the company’s Chapter 11 bankruptcy case.
As the deadline for compromise draws near, Delta Airlines and the pilots union are still at each other’s throats over the carrier’s bankruptcy reemergence plan, making arbitration seem like an increasingly likely option.
Northwest Airlines’ management and pilots have bought more time this week to negotiate cost-saving deals that will determine whether the carrier will fold.
With shaky finances and labor problems growing more severe by the day, Italian airline Alitalia is scrambling to come up with a restructuring plan that will appease both union workers and creditors and allow the airline to escape bankruptcy.
A deal has been finalized in the battle between Northwest Airlines Corp. and the committee representing its retirees over the company’s proposal to cut labor and retiree costs as it reorganizes under Chapter 11 bankruptcy.
Internet search company Google Inc. has said its intellectual property would be compromised if it complied with a White House demand to turn over huge amounts of search activity conducted by users.