Pay Cuts

[Bird Doctor]

Taken fron DJnews


Copyright © 2005 Dow Jones & Company, Inc.
10/03 17:59 DJ Three US Airways Officials Agree To Pay Cuts >LCC

WASHINGTON (Dow Jones)--Three executives of U.S. Airways Group Inc. (LCC) agreed to reduce their pay, the company reported on Monday in a filing with the Securities and Exchange Commission.

Alan W. Crellin, Jerrold A. Glass and Elizabeth K. Lanier, who were executives of U.S. Airways before the company's recent emergence from bankruptcy in its merger with America West Holdings Corp., were each entitled to an annual base salary of $425,000 in previous employment agreements.

However, the company disclosed on Monday that each executive agreed to an annual reduced base salary of $317,475.

Crellin is to serve as US Airways' executive vice president-operations; Glass as executive vice president and chief human resources officer; and Lanier as executive vice president-corporate affairs, general counsel and secretary.

The executives are also eligible for unspecified bonuses and awards of stock or options, the company said.

-By Tony Cooke, Dow Jones Newswires; 202-862-1347; tony.cooke@dowjones.com




(END) Dow Jones Newswires

 

[Harry Callahan]

Now we know why Glass left. Who's next ?

 

[B737 MECHANIC]

Now we know why Glass left. Who's next ?

[post="308661"][/post]​

WHEN WE ALL BECOME IAM WE WILL ALL TAKE PAY CUTS

 

[Res]

I GUESS THIS IS ONE WAY TO MAKE OVERPAID MGMT MOVE ON - NO NEED TO FIRE THEM - JUST TAKE THEIR MONEY -- THIS IS LONG OVERDUE.

 

[fr8tmastr]

I wish they were shown the door, Glass took a 100,000 pay cut but recieved how much of the 55 million in bonuses? The bonus bought and paid for by destroying the 170 division.

 

[jimntx]

You people should show some compassion. Those poor people are going to have to try and pay their bills and feed and clothes their children on ONLY $317, 425/yr! Maybe some flight attendants, rampers, and mechanics can form a committee to show them how to apply for food stamps.

 

[noname]

You people should show some compassion. Those poor people are going to have to try and pay their bills and feed and clothes their children on ONLY $317, 425/yr! Maybe some flight attendants, rampers, and mechanics can form a committee to show them how to apply for food stamps.

[post="308770"][/post]​

They will be ok, don't worry about them..Remember, they were so talented that they needed retention bonuses to keep them from going elsewhere.... uh.BYE BYE.