morroccomole
13th Dec 2000, 14:53
Sorry I'm a bit late posting but here is a brief resume of what SH had to say on Sunday.
FLS are on track to be in profit for last 1/4 of this year. Not as much as hoped but a profit nevertheless. Using the figures from this 1/4 to forecast the next 2 years shows steady growth. Parent company have told Aerospace that there is no more money. Aerospace has to start making their own money. To try and increase profitability there are to be no more loss making contracts. Existing customers (some) will be asked to renegotiate existing contracts. £30/hour labour rates are gone.
F1 will continue to be expanded.
There then followed a Q & A session. STN reps asked why if the emphasis was on teamwork, was the easyJet team disbanded half way through the C check programme? No real answer from the General Manager for STN.
Then the real highlight; a rambling question from Dublin Union Official (employed by Union)told his life story, serious 7 month illness etc etc, then went on to say that Dublin are not paid enough and that house wiring engineers earn more than FLS electricians.Could they have more money please? New HR VP stood up to answer it, gave some smart arse answer that SH almost apologised for!.
All retired to Hotel where Dublin Union man got totally hammered at FLS expense. Probably spending the money that could have been used to give his men a pay rise?
FLS are on track to be in profit for last 1/4 of this year. Not as much as hoped but a profit nevertheless. Using the figures from this 1/4 to forecast the next 2 years shows steady growth. Parent company have told Aerospace that there is no more money. Aerospace has to start making their own money. To try and increase profitability there are to be no more loss making contracts. Existing customers (some) will be asked to renegotiate existing contracts. £30/hour labour rates are gone.
F1 will continue to be expanded.
There then followed a Q & A session. STN reps asked why if the emphasis was on teamwork, was the easyJet team disbanded half way through the C check programme? No real answer from the General Manager for STN.
Then the real highlight; a rambling question from Dublin Union Official (employed by Union)told his life story, serious 7 month illness etc etc, then went on to say that Dublin are not paid enough and that house wiring engineers earn more than FLS electricians.Could they have more money please? New HR VP stood up to answer it, gave some smart arse answer that SH almost apologised for!.
All retired to Hotel where Dublin Union man got totally hammered at FLS expense. Probably spending the money that could have been used to give his men a pay rise?