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U.S. airlines rush to staff up again

Published

3 years ago

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They laid off thousands of staff when the pandemic hit – but now airlines across America are struggling to rehire

After laying off thousands of workers during the health crisis, U.S. airlines are now scrambling to staff up as a rebound leaves them short of all kinds of workers. Matt Larotonda reports.

They laid off thousands of workers during the global health crisis.

And now, airlines in the U.S. are scrambling to hire them all back again.

Travel demand is rebounding and carriers suddenly facing a shortage of all kinds of staff, not just pilots.

That’s sparked a pay battle for workers.

American Airlines subsidiary Piedmont is trying to lure pilots in with an $180,000 bonus offer.

United is offering a $5,000 signing bonus for some ground staff.

Spirit, the low-cost carrier, has raised some wages by 30%, and is helping flights attendants pay back tuition fees.

Big names like United and Delta are also poaching workers from smaller operators, where wages are lower.

But the soaring wage costs are coming just as fuel prices are jumping as well, and with airport charges on the rise too.

That has left airline profits feeling the squeeze.

Critics say the firms only have themselves to blame.

U.S. airlines made savage job cuts last year, despite getting $54 billion in federal aid to help cover payroll costs.

The cuts have left them short of workers as demand snaps back.

Staff shortages are one factor behind the recent rash of flight cancellations.

They could also stop carriers from serving less profitable routes altogether.

United has already decided to drop eight routes in the Midwest and South as a result of pilot shortages.

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Money

China has pledged to “significantly increase” debt to jumpstart its economy

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12 hours ago

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October 14, 2024

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Finance Minister Lan Foan announced plans to help local governments tackle debt, support low-income households, and boost the property market.

Investors have been urging such steps as China faces deflationary pressures and a sharp property market downturn.

However, no figure was provided for the stimulus package, leaving markets anxious about the strength and duration of the recovery effort.

Economists warn that this lack of clarity may prolong uncertainty until China’s legislature approves extra debt measures.

Concerns are rising that China may fall short of its 5% growth target, signalling deeper structural challenges ahead.

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Niche accountants proving essential to e-commerce success

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5 days ago

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October 9, 2024

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Expert explores the key benefits of partnering with accountants who specialise in niche industries.

In today’s fast-paced digital world, having an accountant who understands the intricacies of e-commerce can make all the difference in your business’s success.

Specialist accountants understand the specific needs of e-commerce businesses, helping to maximise tax savings, streamline operations, and improve financial health.

Niche accountants can identify opportunities to scale, optimise profit margins, and implement strategies that align with your business goals, ultimately drive growth.

Chris Rivera, Founder of The Ecommerce Accountants, joins to share his key insights into the industry.

#featured

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Money

Amazon’s 2024 Prime Day expected to make huge impact on tech sector sales

Published

6 days ago

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October 9, 2024

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Market experts believe Amazon’s upcoming event will drive a surge in sales, benefiting Amazon’s stock and boosting consumer tech companies that sell through its platform.

Experts predict that a short-term rally in retail and tech stocks could be seen as revenue spikes.

Founder/CEO of Unearthing Opportunities, and Board Advisor to Power Hero, Bradley A Gastwirth joins to unpack the latest market moves. #featured #trending

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