He also said the group had reduced his pay to $850,000.

Congress has acted four times to reduce its members' pay.

He reduced his own pay by 25%, to approximately $325,000 per year.

This was rejected by the workers, who would both have to reduce their pay and work five more years before retirement.

Teams could reduce guaranteed pay, but give players a stake in the company.

Some carriers also said they would have to cut costs by laying off workers or reducing pay.

Union members argue they will reduce pay and introduce inferior working conditions.

The pilots union said the offer called for a $61 million package of concessions that would reduce pay by 20 percent.

Pilots at other airlines are facing similar efforts to reduce pay and benefits.

The Continental statement means that all six of the industry's traditional airlines have announced plans this year to reduce pay, jobs and costs.