RENO, Nev., April 23 /PRNewswire/ -- Reno Air, Inc. (Nasdaq: RENO; PCX),
today announced a significant restructuring of its organization. With the
focus on restoring profitability while improving the product, a complete
evaluation of the corporate structure has been completed.
From that evaluation, processes have been streamlined, consolidations have
been put in place, the revenue accounting function will be outsourced, and
staffing levels have been modified.
As a result, including the station closings and schedule reductions
already announced, 330 jobs will be eliminated by summer representing
approximately 15% of the workforce. Within this, are included about 70
management and administrative positions, representing 20% of those
classifications, and 5 of 11 senior management positions.
"Changes like this are difficult," said Reno Air CEO Joe O'Gorman. "But
if we are to make progress toward profitability, they are absolutely
necessary. There are still cost reductions that need to occur, and this is a
first step in that direction."
Affected employees will get pay and benefits based on longevity and the
Company will work with them to find other employment.
As the Company reported earlier, job vacancies have been closed and there
are no further schedule reductions planned.
"Simply, we are going to do what we do better, and at less cost," said
O'Gorman.
SOURCE Reno Air, Inc.
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Related links:
http://www.renoair.com
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 740075
CONTACT:
Connie Huff, Reno Air Corporate
Communications, 702-954-5000, ext. 4326
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