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Old 10-23-2016 | 12:49 PM
  #1551  
ForeverWaiting
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As the paragraph below straight from Wikipedia shows, just 10 years ago things were not all that rosy in ATL. How many years does it take to recover from a 46.5% pay cut? Assuming you were not caught up in the furlough that is..

In 2005, Delta accelerated its restructuring, targeting an additional $3 billion per year in cost reductions by 2007. Of that, $970 million was to come from debt relief, lease and facility savings, and previously commenced fleet modifications. Non-union workers' salaries were to be reduced by a minimum of 9% across the board, with a 15% reduction for executive officers and a 25% pay cut for CEO Gerald Grinstein. In December 2005, the Delta pilots agreed to an additional temporary 14% cut in pay, piggybacking onto the 32.5% taken at the beginning of 2005. This cut was made permanent with the ratification of an agreement in June 2006. Additionally, the company planned to lay off between 7,000 and 9,000 of its 52,000 employees.
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