United Strikes Deal With Pilots on Buyouts, Early Retirements

United Airlines Holdings (NASDAQ: UAL) late Thursday reached a tentative agreement with its pilots union for voluntary furloughs and early retirement offers, part of the airline's effort to limit layoffs this fall as the industry adjusts schedules based on falling demand.

United earlier in the week sent out notices warning that upwards of 36,000 employees could be furloughed. The airline is hopeful not to need to cut that many people, but carriers are planning for significant layoffs in the months to come as COVID-19 continues to slow travel.

Image source: United Airlines.

Source Fool.com