Good to see the owners profits at 1.056bn with the employee cost at 12.1 Billion. 50%Pay cuts ie of 12.1 is approx 6bn .... then 1bn of owners profits could have reduced that to 5bn for the next year. A greater than 59% staff cost saving, and saving of how many jobs and lives not ruined?
32 years of profits and unable to make enough medium term cuts to save the ruined employees lives? That remaining 5bn of staff costs for the following year is 156m a year over the 32 yrs, and gives them free staff for the next year. Even if you just cut the staff costs to 2.5bn for the next year (an 80% saving) and offset the other 2.5bn against the 32 years of profits its 78m a year for the 32 years. Investing in people, I don’t think so!
Other airlines around the world have saved countless job cuts with even a 16% pay cut, BA for example. How can they do it yet Emirates can’t?
Last edited by Fired600; 23rd Jul 2020 at 04:13.