CHICAGO (CBS) — United’s executive chairman says the U.S. airline industry needs to shrink to survive.
Oscar Munoz thinks airlines have to cut labor costs by as much as 50% to stay in the air, but that doesn’t necessarily mean cutting half of current workers.READ MORE: Chicago Weather: Stray Sprinkles On Friday
“I think a lot of us are working ways of working in ways where a simple example, a job share program, where you and I would share this job,” Munoz said. “And there’s one salary versus two for a period of time. So, the payroll costs will have to be down so it’s not necessarily losing people.”READ MORE: Young Boy Shot And Seriously Wounded In Bronzeville High-Rise Apartment
Munoz recently stepped down as United’s CEO. He thinks business travel won’t recover until there is a vaccine.MORE NEWS: Family Of Girl Who Died At Age 11 Finds Her Headstone Overturned And Damaged At Cemetery In Hillside