obiero wrote:HaMaina wrote:obiero wrote:ArrestedDev wrote:sparkly wrote:maka wrote:maka wrote:lochaz-index wrote:Boeing's stock price has plunged to $97 from highs of about $440 in 2019 in the type of moves bankruptcies are made of. For KQ it is the case of a broke GoK attempting to save a broke SOE...I wouldn't count on it.
Things are extremely bad....Totally grounding of the entire fleet is imminent....
No comments!
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A CEO who thinks like this is not fit to drive this Company out of the bad management it has been through for so many years.
What about employees who are living from hand to mouth, relying from paycheck to paycheck?
Salary reduction should apply to senior executives only.
What they need to do is to ask for a bailout from the government. This is the only way out.
Reducing salaries of junior employees is a drop in the ocean. What about lease costs for planes that will be parked for months? Does Allan want to tell us the savings from the salaries is enough to service the lease costs and other loans.
A serious executive will negotiate at first instance with banks on the loans they are servicing and aircraft lessors regarding ways to defer the monthly repayments.
The letter above addressed to the employees does not mention of such a discussion, only a sentence talks about the government.
By increasing his paycut by 5% to 80% is just laughable.
80% pay cut isn't laughable.. The staff were always the problem at KQ
Is it that the staff were too highly Paid, or was it that KQ was overstaffed?? Cutting the staff number would definitely have more lasting outcome but lowering income would also most likely result in a lot of voluntary resignation.
It's a combination of both. There won't be any voluntary resignation as there are no jobs in the economy. Please note though, not all KQ employees are bad, but it is majority
@Obiero let me help you out on this.... there are some grades in KQ where the salaries are above what it should be... Rem we always say that the pilots and senior management are around 480-500 but they earn 60% of the entire 16Bn wage bill.... The was supposed to be a staff rationalisation programme but it had been deffered for a long time...The ones being done are cosmetic fitting people who belong to the system where they want and giving them good salaries...
Hope after this/if we get through this things will change.
On being overstaffed I don't think so....
Look at the annual reports staff numbers have been reducing YoY....If you go now your role will probably just be filled with another employee without any increment.
My biggest problem has been the mindset of most people never changed....Wanton wastage was the order of the day.This is what really really hurts me the most....
Now everyone is in shock... Including those pilots.
possunt quia posse videntur