U.S. Airways

Paper Summary:

This paper explains that the recent bankruptcy filing by U.S. Airways has led to cost cutting, which includes reducing company contributions to employee retirement plans. The author points out that this action, which is not unique to this airline, threatens the future financial security of employees. The paper relates that more and more companies are reducing employee retirement spending, forcing employees to assume more responsibility for their financial future.

From the Paper:

" A recent U.S. Airways decision to cut company contributions to employee retirement plans in order to save costs may be an indication of what employees have to look forward to in industries across the board. In the case of the troubled airline, which recently filed for its second bankruptcy in two years, reducing ... million in retirement payments for mechanics and flight attendants, is part of a last-gasp effort to avoid liquidation and give the company ..."

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