9-Jul-2020 4:18 PM
United Airlines Holdings informs 36,000 employees of planned workforce reductions
United Airlines Holdings informed (08-Jul-2020) approximately 36,000 employees of plans to reduce its workforce. The notice is as a part of United's strategic realignment and reorganisation of its structure, following the COVID-19 pandemic. Actions as a result of the notice will take effect from 01-Oct-2020, and may continue until the end of 2020. The company expects to recognise approximately USD300 million in employee separation charges related to voluntary terminations in 2Q2020, with a cash amount of approximately USD50 million. [more - original PR]