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. 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. Prohibitions on layoffs included in the CARES Act expire on Sept. 30, and the industry is expected to make significant cuts after that date.