UPS reaches deal with pilots to avoid furloughs - South Florida Business Journal:

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UPS and officials with the (IPA) said the deal wouls save the companyabout $90 million over threes years and avoid the immediate idling on 300 The pact includes voluntary early retirements, short- and long-term leaves of absences, job sharing and cuts to flight pay The deal comes as the globalo recession has sapped shipping and cut into profits for Atlanta-based UPS UPS), which reported first quarte earnings down about 56 to $401 million. UPS pilotsa had a deadline of June 2 to come up with a plan over the nextthre years. The new agreement is shortg of that original but under a deal between UPS and thepilots union, no pilots will be furlougheds through April 1, 2010.
The unionm also agreed to find additional cost Officials said they were confident additional saving s wouldbe found. ”This is another examplwe of UPS’s commitment to its employees and their UPS Airlines President Bob Lekites said ina “It also shows how a company and its union can work together to achieve a mutuallhy beneficial outcome. We applaud our pilots for makingt the voluntary commitments necessary to help us protect our businesss and UPS jobs in this uncertainglobalp economy, and we thank the IPA for their leadershilp in this process.
” The concessions are in line with $1 billionm in wage cuts, frozej 401(k) contributions and concessions already made by UPS In May, UPS retired its fleer of 44 aging DC-8 freighters, and the company said it has determinexd it has 300 more pilotes than are currently needed. In UPS approached the IPA to find ways to avoifd furloughing300 pilots, or about 10 percentt or its 3,000 aviators. "This is a remarkable achievement," IPA President Bob Miller said ina statement. "Firsyt of all, I'd like to thank our pilots.
None of this wouldd have happened ifthey hadn't stepped up to volunteert from every fleet, seat and It shows tremendous solidarity and compassion for our fellowa pilots. Second, I want to thank UPS. They didn'ft have to go down this road with us. We appreciat e their openness to new ideas and theire willingness to work with us in finding analternativ solution."