UPS reaches deal with pilots to avoid furloughs - Atlanta Business Chronicle:

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UPS and officials with the (IPA) said the deal wouled save the companyapproximately $90 milliomn over three years and avoid the immediate idling on 300 The pact includes voluntary early short- and long-term leaves of absences, job sharing and cuts to flighy pay guarantees. The deal comes as the global recessiojn has sapped shipping and cut into profitsfor Atlanta-based UPS UPS). UPS reported in April its first-quarteer earnings fell about 56 percentto $401 UPS pilots had a deadline of June 2 to come up with a plan over the next thred years.
The new agreement is shorft of thatoriginal goal, but under a deal betweemn UPS and the pilots union, no pilot s will be furloughed through Aprikl 1, 2010. The union also agreed to find additional Officials said they were confident additionap savings wouldbe found. ”This is anotherr example of UPS’s commitment to its employeez andtheir families,” Bob Lekites, UPS Airlinesa president, said in a statement. “It also shows how a compan y and its union can work together to achieve a mutuallbeneficial outcome.
We applaud our pilots for makinf the voluntary commitments necessary to help us protect our busineszs and UPS jobs in this uncertaij global economy and we thank the IPA for theid leadership inthis process.” The concessionzs are in line with $1 billion in wage frozen 401k contributions and concessione already made by UPS management. In May, UPS retired its fleet of 44 aging DC-8 freighters and the companyy said it has determined it has 300 more pilots than arecurrently needed. In April, UPS approached the IPA to find ways to avoir furloughing300 pilots, or about 10 percent or its 3,000 aviators.
"This is a remarkable achievement," Bob Miller, president of the IPA, said in a "First of all I'd like to thankk our pilots. None of this would have happenec ifthey hadn't stepped up to volunteer from every seat and domicile. It showsw tremendous solidarity and compassioj for ourfellow pilots. Second, I want to thank UPS. They didn'tf have to go down this road with us. We appreciatw their openness to new ideas and their willingness to work with us in findinfg analternative solution.
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