(by Fiona Mitchell)
US Airways, the U.S. seventh-biggest carrier, is going to cut its executive payroll by at least 20%. Thus, about 300 managers will see their pay and benefits to be reduced.
Next Thursday the company will face its bankruptcy hearing as earlier this month US Airways filed for Chapter 11 bankruptcy protection.
The only specified comment was heard from Christopher Chiames, US Airways senior vice president of corporate affairs, which has said the company plans to cut about $45 million of its $201 million management payroll. "Management is going to be participating in the cost restructuring. We will announce those changes when we’re ready to announce them," said Mr. Chiames.
More details are expected to be announced soon by the company’s spokesman.