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British Airways asks employees to work without pay





icecool
well.......
another of these fat cats showing good grace
and for a change it's not in the us of a
Quote:
LONDON (AP) -- British Airways on Tuesday urged its staff to work for nothing in an effort to save the company money.

British Airways PLC is struggling to come up with ways to save cash after reporting its biggest full-year loss since the former national airline was privatized in 1987.

BA chief Willie Walsh has said he would not draw a salary for the month of July, and urged other employees to work for blocks of time without being paid.


what a splendid idea we all say.
lets all work together to keep the shareholders happy
yesssssssss
that's the guys we work for in corporations like that
they don't complain when they make a great divident on their invesrment like last year on record profits
Quote:
BA said last month that it had lost 375 million pounds ($595 million) in the year ending March 31, compared with a profit of 712 million pounds in the previous year.

but soon shout when there is nothing forthcominng
and yessssssssssss
its gonna be mr walsh they shout at

now lets try to look at that generous offer he made
lets assume he is earning a modest 100,000 bucks a month
to give up i month salary is about 8 % rolled over the whole year
so he cuts his salary to 92,000 a month
but since most of his income is paid in bonuses, share options, pension benefits and all that - its not to bad and he may be able to survive

then lets look at the lil sucker who cleans the toilets
he/she is maybe on 1,000 bucks a month
to cut that by 8 % - 80 bucks - is ALOT of money

nice to be able to be so generous with other peoples money
AND look great in the press
and OF COURSE
appear VERY responsible in front of the shareholders

http://finance.yahoo.com/news/British-Airways-asks-apf-15539391.html?.v=1
deanhills
icecool wrote:
well.......
another of these fat cats showing good grace
and for a change it's not in the us of a
Quote:
LONDON (AP) -- British Airways on Tuesday urged its staff to work for nothing in an effort to save the company money.

British Airways PLC is struggling to come up with ways to save cash after reporting its biggest full-year loss since the former national airline was privatized in 1987.

BA chief Willie Walsh has said he would not draw a salary for the month of July, and urged other employees to work for blocks of time without being paid.


what a splendid idea we all say.
lets all work together to keep the shareholders happy
yesssssssss
that's the guys we work for in corporations like that
they don't complain when they make a great divident on their invesrment like last year on record profits
Quote:
BA said last month that it had lost 375 million pounds ($595 million) in the year ending March 31, compared with a profit of 712 million pounds in the previous year.

but soon shout when there is nothing forthcominng
and yessssssssssss
its gonna be mr walsh they shout at

now lets try to look at that generous offer he made
lets assume he is earning a modest 100,000 bucks a month
to give up i month salary is about 8 % rolled over the whole year
so he cuts his salary to 92,000 a month
but since most of his income is paid in bonuses, share options, pension benefits and all that - its not to bad and he may be able to survive

then lets look at the lil sucker who cleans the toilets
he/she is maybe on 1,000 bucks a month
to cut that by 8 % - 80 bucks - is ALOT of money

nice to be able to be so generous with other peoples money
AND look great in the press
and OF COURSE
appear VERY responsible in front of the shareholders

http://finance.yahoo.com/news/British-Airways-asks-apf-15539391.html?.v=1
I just could not believe it when I read this. And then in the meanwhile I was thinking about my choice of airline decisions in the last few weeks. I like British Airlines for flights to North America, but they are much more expensive than their competitors. And as usual they are now hitting on their staff, instead of beefing up their marketing, which obviously is not competitive enough. Twisted Evil
Nick2008
Why hadn't they thought of this before? For sure, many people will work for free. Razz
Hogwarts
Here's an idea, as soon as all shareholders withdraw their money from the company it ceases to exist, which would be rather more detrimental than going without a wage, because then you would indefinitely go without a wage until you found a new job (tip: that's rather more difficult during a period of negative growth).

yessssssssssss. That's a good idea. Let's have the company go bankrupt; it's a much better alternative to going without a salary for a month! Similar things are happening over in Australia, although they're not optional. Companies are deciding that it's best to cut the shifts of each and every employee due to the lower amount of production required; as a result of lackluster sales.

Also, perhaps you should look into British Airways dividend sometime soon. It wouldn't surprise me at all if they suspend it soon, if it hasn't been already. It only started again last year, even, due to their massive profits -- meaning that the shareholders were getting nothing for the time inbetween Rolling Eyes

But, yessssssssssss. Let's be sarcastic and dim-witted about the ordeal without taking the time to look at it. I believe it's good that Walsh is doing this. It's better if the leader of a company sets an example than if they're forced to go ahead and force them into it. Much, much better, in fact.
prithvi
These kinds of decisions are happening very frequently nowadays, in these times of the big R.

Delayed pay, compromised salaries, working double shifts and such measures are being taken, in order to play safe for the future.....and its more common in bigger organizations, having large workforce.
Solon_Poledourus
Damn I am glad I never became a pilot like I wanted to as a kid... Got my single engine license though...
ocalhoun
I'm afraid that if my employer said that, I'd be forced to explain that I stop working when they stop paying... And resume working when they resume paying. If they fire me, I'll just find an actual job, not a volunteer position.
Da Rossa
What the desperate people can do! We find many creative solutions around to get over the "crisis", but this one was the most funny one!!
deanhills
Da Rossa wrote:
What the desperate people can do! We find many creative solutions around to get over the "crisis", but this one was the most funny one!!
Wonder whether this extends to the executives on the Board of British Airways? Total freeze on their benefits? I still can't believe how this proposal could be seriously considered by anyone. Has to be a joke in a BAA Executive Club that became a proposal by accident Twisted Evil
prithvi
It's happening everywhere.

The national airline in India (Air India) has asked all employees to forgo a month's salary, as a result of the heavy losses incurred due to recession.
harismushtaq
Few months back, I read some where that Thai airline is making no money for its flight to Newyork even when they are 90% full on average. Thai airline statement was that due to high fuel prices, they need the plane to be filled 120% to get a balance.

Now, the fuel prices are one third of what they were then. I hope Thai airline would be making profits if the flights are 90% full on average.

With BA having high fares, why cannot they make money when the fuel prices are not that high. Is the salaries of thier employees very high ? Are there very few pessengers due to the high cost of ticket. If these are the cases, BA can think of solving these specific problems as this will bring a long time solution to the problem then just not paying the employees for one month.
Solon_Poledourus
harismushtaq wrote:
Few months back, I read some where that Thai airline is making no money for its flight to Newyork even when they are 90% full on average. Thai airline statement was that due to high fuel prices, they need the plane to be filled 120% to get a balance.

Now, the fuel prices are one third of what they were then. I hope Thai airline would be making profits if the flights are 90% full on average.

With BA having high fares, why cannot they make money when the fuel prices are not that high. Is the salaries of thier employees very high ? Are there very few pessengers due to the high cost of ticket. If these are the cases, BA can think of solving these specific problems as this will bring a long time solution to the problem then just not paying the employees for one month.
I think alot of the reason there is a lack of 'profit' is because executives are still raking in bonuses and high salaries while costs go up and less people fly. Instead of taking u cut in pay themselves, they make their lower level employees take the hit. It's unfair, and I suspect we will see some airline strikes in the near future.
deanhills
Solon_Poledourus wrote:
harismushtaq wrote:
Few months back, I read some where that Thai airline is making no money for its flight to Newyork even when they are 90% full on average. Thai airline statement was that due to high fuel prices, they need the plane to be filled 120% to get a balance.

Now, the fuel prices are one third of what they were then. I hope Thai airline would be making profits if the flights are 90% full on average.

With BA having high fares, why cannot they make money when the fuel prices are not that high. Is the salaries of thier employees very high ? Are there very few pessengers due to the high cost of ticket. If these are the cases, BA can think of solving these specific problems as this will bring a long time solution to the problem then just not paying the employees for one month.
I think alot of the reason there is a lack of 'profit' is because executives are still raking in bonuses and high salaries while costs go up and less people fly. Instead of taking u cut in pay themselves, they make their lower level employees take the hit. It's unfair, and I suspect we will see some airline strikes in the near future.
Good point. Another way to make more money is to enter into sharing agreements with other airlines. Some airlines have been doing it for a while, but I have not seen much of that with Thai Airlines, as it would appear they like to be in strict control of their routes.
jabce85
ha, there is no way i would work for that company for nothing.. come on....
sadness
all executives and higher managers making well over six figures a year should work at least a month without pay.
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