United Airlines has told its union workers that it must terminate their pensions, cut pay and eliminate jobs to reach its goal of saving $2 billion in costs annually and emerge from bankruptcy. It is expected that other struggling airlines may take their cues from United when it comes to cutting pensions. This move is also expected to anger employees who have already been forced to make major concession and meet with union resistance.
See "Pensions must go, United tells its unions", Mark Skertic, Chicago Tribune, November 4, 2004