Teamsters to closely monitor Continental-United merger
03-May-2010 The Teamsters Union announced today that it is assembling an experienced team of experts to ensure its members' jobs and interests are protected should the proposed merger of United and Continental be approved by federal regulators and shareholders.
"Our most important responsibility is to ensure that the proposed Continental-United merger doesn't harm our members," said Teamsters Airline Division Director David Bourne. "Our team of legal and financial experts has extensive experience with mergers and acquisitions and will watch this process carefully so that the interests of our mechanics and fleet service members are protected."
In an unrelated move, Continental Airlines said today that it is reversing a decision announced in March to close seven stations. The closures would have affected about 150 fleet service workers located in Greensboro, N.C.; St. Louis and Kansas City, Mo.; Norfolk and Richmond, Va.; Pensacola, Fla.; and Providence, R.I. The fleet service workers handle baggage and cargo, and they perform other essential jobs, including directing jets to the terminal gates.
"We understand there will be no layoffs if the merger is completed, and that attrition will be through the normal attrition process of retirement and resignation," Bourne said.
The Teamsters represent about 8,000 mechanics at United (Nasdaq: UAUA), 5,000 mechanics at Continental (NYSE: CAL) and 8,000 fleet service workers at Continental.
Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women throughout the United States, Canada and Puerto Rico, including 250,000 workers at UPS.