Under the programs, the airline is offering employees cash severance depending on years of service, up to six months of pay. It is also offering health care coverage for one year for those who take an “early out” buyout package, and two years for those who take early retirement, as well as flight benefits for both. Most of the departures will take effect Aug. 1.
Atlanta-based Delta disclosed the size of the expected charges in a Wednesday filing with the U.S. Securities and Exchange Commission for its second quarter financial results. The figures are an estimate, since the process is ongoing, including the time period for pilots to sign up for early retirements.