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February 2, 2009
Delta Air Lines Inc. is extending the deadline of its employee buyout offer as it moves to cut 2,000 jobs, according to reports.
The deadline was to be Jan. 31, but Delta is extending the option period by 12 days to Feb. 11, according to Bloomberg News.
Atlanta-based Delta (NYSE: DAL) announced the buyout plan in December and said Jan. 15 it expected to eliminate 2,000 jobs.
The buyouts are part of Delta’s plan to eliminate flight capacity in 2009 by 8 percent. The reductions in jobs and flights, following Delta’s merger with Northwest Airlines, are an effort to bolster the bottom line as travel wanes in the global recession.
Both carriers had already cut thousands of jobs in 2008 through early retirements and other buyouts.
Delta offered voluntary severance packages to employees in March, and more than 4,000 applied. Northwest, meanwhile, cut 2,000 positions before the airlines merged.
Delta said in December the latest buyouts are for certain employees with a decade or more years completed service and whose age and years of employment equal at least 55 years.
Delta CEO Richard Anderson told employees in a weekly recorded message the buyout program is generating interest, according to Bloomberg.
“Extending the deadline is the right thing to do and allows you more time to get your questions answered and to make the right decisions for you and your families,” Bloomberg quoted Anderson.
Delta is one of the largest carriers serving Louisville International Airport. It also operates a hub at the Cincinnati/Northern Kentucky International Airport.
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