Delta lays off some corporate workers to cut costs
"While we're not yet back to full capacity, now is the time to make adjustments to programs, budgets and organizational structures across Delta to meet our stated goals," the company told Reuters in an emailed statement.
Delta Air Lines (DAL.N) said on Wednesday it is cutting some corporate jobs to better manage costs, at a time when the industry grapples with higher fuel and labor expenses.
Delta did not specify how many jobs it is cutting, but said the layoffs do not affect frontline workers like pilots or flight attendants.
"While we're not yet back to full capacity, now is the time to make adjustments to programs, budgets and organizational structures across Delta to meet our stated goals," the company told Reuters in an emailed statement.
"One part of this effort includes adjustments to corporate staffing in support of these changes."
CNBC first reported the layoff news.
The cuts come after Georgia-based Delta said earlier in the day that it would cancel its flights between Tel Aviv and New York through Nov. 21 amid growing tensions in the Middle East.
In October, the company trimmed its full-year profit outlook due to higher fuel costs. Rising fuel prices are estimated to inflate Delta's costs by $400 million in the second half of the year.
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Looking for short term investment ideas? Analysts suggest buying these 2 stocks for potential gain; check targets
Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations
08:18 AM IST