Australia, New Zealand & the Pacific Airline and RPT Rumours & News in Australia, enZed and the Pacific

Pay rise certain

Old 24th Aug 2018, 00:45
  #21 (permalink)  
 
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Share buy-backs to continue

The only pay rise certain is for the executives who partake in the Long Term Incentive Plan (LTIP). It is worth considering the Qantas 2017 Annual report pages 39 & 40. The lack of investment in Qantas, the share buy-back & dividend policy is incentived by the LTIP performance criteria to elevate the share price to hit the total return targets for bonus payouts. Expect further buy backs and less investment in the business if the markets move higher. Got to keep up with the Jones to get a pay day.

TSR = Total Shareholder Returns, that is share price + dividends

Qantas Annual Report 2017, page 13




Qantas Annual Report 2017, page 39

Qantas Annual Report 2017, page 40
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Old 24th Aug 2018, 02:36
  #22 (permalink)  
 
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Gotta hand it to him. Presenting a bonus offer which is conditional on employees accepting pretty much without question the company position in EBA negotiations is one of the greatest "we'll give em a bonus which costs us nothing" (not to mention the $500 staff travel credit which gets written off on unsold seats at essentially no cost) techniques they've come up with so far!

The interesting thing is, how many will swallow the spin? My bet is the media will take it hook, line and sinker, as they've generally shown that business class upgrades, lounge memberships, and complimentary seats to report on overseas QF travel destinations are more important than actually questioning anything the CEO says.
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Old 24th Aug 2018, 03:08
  #23 (permalink)  
 
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https://www.3aw.com.au/rumour-confir...ick-by-qantas/

President of the Engineers union on Melbourne radio this morning.
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Old 24th Aug 2018, 03:29
  #24 (permalink)  
 
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Originally Posted by MELKBQF View Post
https://www.3aw.com.au/rumour-confir...ick-by-qantas/

President of the Engineers union on Melbourne radio this morning.
the unfortunate thing is that that is a single instance of a counter position to that of q that has been broadcasted to the public. Our union positions must be made public immediately whilst debate is fresh amongst the public.

The ceo has spruiked the bonus message across mainstream media as if to say that 67mil is currently sitting in our accounts, which is most certainly not the case and unlikely to ever be, unless this goes to FWC and ruled in the employees favour.

There is a desperate need to get the message to the public that in fact, the 67mil still sits with the company and that we are being held to ransom. The longer we wait to advocate, the more entrenched the perception among the public that we are ungrateful pigs with our snouts in the trough. But this is simply my opinion.
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Old 24th Aug 2018, 03:33
  #25 (permalink)  
 
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Section 343 Fair Work Act 2009

Coercion (1) A person must not organise or take, or threaten to organise or take, any action against another person with intent to coerce the other person, or a third person, to: (a) exercise or not exercise, or propose to exercise or not exercise, a workplace right; or (b) exercise, or propose to exercise, a workplace right in a particular way.
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Old 24th Aug 2018, 03:35
  #26 (permalink)  
 
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What the unions ought do is donate to drought relief or some worthy charity.

That exposes what is a self serving grossly over compensated senior management,
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Old 24th Aug 2018, 04:02
  #27 (permalink)  
 
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Agree with both posts Rated De, particularly the latter. The general consensus is to donate the bonus to our farmers and I think this would attract solid support.
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Old 24th Aug 2018, 04:37
  #28 (permalink)  
 
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There is a bigger story to this. With the Inlt FA union claiming it's EBA expires 2021, what happens to any bonus that may accrue in that time? Are management expecting it will accumulate to an amount that will secure an unfair wage deal? Are they trying to push for shorter term agreements?

I am sure that there is some type of hidden agenda here as they start marching already disgruntled employees towards expiring agreements.
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Old 24th Aug 2018, 05:20
  #29 (permalink)  
 
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There are between 40-50 ea’s for q. A good bunch are due for expiration within a year and they include key influencers like mainline pilots (sh/lh) and mainline licensed engineers... assuming a bonus next fy, then two bonuses come under consideration moving forward for these 3 ea’s. the tone will be set primarily by these 3 in any case (mainline ramp have just signed their new ea). A lesser number will have a number of fy’s to consider. All of this is assuming the respective ea bargaining don’t drag out past at least 1 additional financial year.

the point is this, for maximum effect we must coordinate amongst ourselves and give effect to developed strategy without delay, preferably prior to 2 things happening, 1- loss of public interest and entrenchment of their perception of our affairs and 2- any subsequent financial years elapsing.
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Old 24th Aug 2018, 05:31
  #30 (permalink)  
 
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Originally Posted by Ngineer View Post
There is a bigger story to this. With the Inlt FA union claiming it's EBA expires 2021, what happens to any bonus that may accrue in that time? Are management expecting it will accumulate to an amount that will secure an unfair wage deal? Are they trying to push for shorter term agreements?

I am sure that there is some type of hidden agenda here as they start marching already disgruntled employees towards expiring agreements.
Nefarious intent is always prime motivation.

For those well versed in IR strategy, what is apparent at the current time is that:
  • Qantas was 'terminal' in FY11 to be 'transformed' in FY15. All achieved with same fleet and wage structure.
  • Biggest loss in QF history achieved by fleet impairment, the timing of which was management's in
  • Pay freezes achieved for 18 months with significant long term compound loss for staff.
  • All insider managers on LTIP (yes their pay was frozen in some cases by millions of VERY cheap options were granted, vesting date FY15)
  • 'transformation' profit comprised of depreciation reduction and fuel price falls.
  • All insiders handsomely rewarded.
Even with the handsome pay off., for the insider it was a once off.

With the business cycle not aligning with open contracts, it is difficult to leverage downwards pressure. They need leverage.
For the pilots the usual practice is to threaten to remove the ' back payment' component in a contract negotiation. Remember the back payment gets bigger the longer management stall!
With a global shortage, at least in the case of pilots, delaying contract negotiations does not generate additional leverage for management, in effect it reveals the weakness of their usual overwhelmingly powerful position.

This is a ham fisted attempt to generate some leverage of employee groups.
At least the Engineering union called it for what it is; probably illegal.
Mr Purvinas is referring to section 343 FWA (2009)
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Old 24th Aug 2018, 05:48
  #31 (permalink)  
 
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https://www.msn.com/en-au/money/comp...d8&ocid=PerDHP

Sorry, do i need another reason to vote no?
Let's just donate $2k to the farmers, and let the public see what contempt Qantas management has for it's workers.
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Old 24th Aug 2018, 06:44
  #32 (permalink)  
 
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Last year Jetstar pilots got the Qantas bonus and a bonus from Jetstar of approx 10 percent of base pay.
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Old 24th Aug 2018, 07:07
  #33 (permalink)  
 
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Post

Originally Posted by Ollie Onion View Post
Last year Jetstar pilots got the Qantas bonus and a bonus from Jetstar of approx 10 percent of base pay.
But to be fair, they did carry 24 million pax at less than $100
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Old 24th Aug 2018, 07:11
  #34 (permalink)  
 
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Originally Posted by Ollie Onion View Post
Last year Jetstar pilots got the Qantas bonus and a bonus from Jetstar of approx 10 percent of base pay.
that would be the company performance bonus which is detailed in the EBA. There should be another one this year given the Jetstar Groups record profit.
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Old 24th Aug 2018, 07:55
  #35 (permalink)  
 
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Thumbs down dont need it with these conditions attached

$2500 and $500 is staff travel credits,i dont need to beg to get on an aircraft,i would rather pay $59 to tiger of even jetstar if i was desperate & then i can fly when it suits me,staff travel credits are useless.
$2000 in cash,take roughly 10% out of it for your super contribution ($200) which is what happens,the company dont pay your super on a bonus,$1800 left,30% tax to be paid equates to roughly $500 so u got $1300 left,over 1 year thats $25 bucks a week in your hand,are we that desperate for $25 a week that we will sell our souls.
How brave to make an announcement yet decide to only mention the bits to make oneself look good & then to come out & say they are surprised that the unions are upset,it really speaks numbers about what land these people live in.
We dont need to be bullied into signing up for $25 a week,i would rather do without a couple of beers & be able to sleep easily at night.
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Old 24th Aug 2018, 09:10
  #36 (permalink)  
 
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Originally Posted by blubak View Post
$2500 and $500 is staff travel credits,i dont need to beg to get on an aircraft,i would rather pay $59 to tiger of even jetstar if i was desperate & then i can fly when it suits me,staff travel credits are useless.
$2000 in cash,take roughly 10% out of it for your super contribution ($200) which is what happens,the company dont pay your super on a bonus,$1800 left,30% tax to be paid equates to roughly $500 so u got $1300 left,over 1 year thats $25 bucks a week in your hand,are we that desperate for $25 a week that we will sell our souls.
How brave to make an announcement yet decide to only mention the bits to make oneself look good & then to come out & say they are surprised that the unions are upset,it really speaks numbers about what land these people live in.
We dont need to be bullied into signing up for $25 a week,i would rather do without a couple of beers & be able to sleep easily at night.
lie down with dogs get up with fleas. They are immoral pricks.
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Old 24th Aug 2018, 10:43
  #37 (permalink)  
 
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As a regular reader of Colin Kruger's articles in the Fairfax rag where he quite often details the executive remuneration of those running our corporations, $2500 is chump change considering our corporate elite aren't really doing anything deservedly for their half million dollar plus bonuses other than just turning up for work.

Then there is the cost of being able to buy a house in the city which needs a $250K bonus just to get a toe in - which is chump change for our overpaid executives.

Obscene salaries for some, bread crumbs for the rest.
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Old 24th Aug 2018, 10:54
  #38 (permalink)  
 
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And I note with interest that the position of the executive tasked with the initial email to staff is now being advertised! Perhaps she wasn’t totally convinced by the whole thrust of the bonus scheme, expressed her dismay, and was ‘Strambied’ ?
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Old 24th Aug 2018, 11:37
  #39 (permalink)  
 
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I like the donate to farmers argument. I donated my last bonus to my local MP because he thought AJ was a genius. I told him all I asked for my money was that someone who had worked for an Australian Icon for xx years felt so strongly about the issue that he (and he is a real ‘he’ before HR jump down my throat) should remember my gift when next he thinks about his Chairman’s Lounge access and how much the giver has extracted for him(not sure about that) self. Of course I paid the sticker price of the donation, not the after tax, staff travel, super figure....

i did did say I felt dirty accepting bribes from someone I considered a thief. I think I made a point.

Last edited by V-Jet; 24th Aug 2018 at 12:01.
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Old 24th Aug 2018, 12:24
  #40 (permalink)  
 
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This is a pathetic threat that shows the contempt Alan Joyce and Qantas management has for both pilots and staff.
After tax and deductions itís around $800. Over the two years an EBA takes to finish itís around $3 a week.
He thinks you are that stupid whilst rewarding himself with 30 MILLION per year. This year could be 50 MILLION in total.
Anyone worked out the last 4 years including options? Must be close to $100 million.
How does that compare to other airline CEOs? Itís obscene anyway.
In the largest global pilot shortage in history you can earn $700,000 in China and a CEO thinks heís worth 30-40 MILLION a year, itís a total disgrace.And heís threatening you with $800 in the hand. Wow. Just wow.
As rated D said Iíd rather donate it to charity and illustrate the greed and delusions of grandeur. Perhaps people have Stockholm syndrome that badly?
If you ever needed conclusive proof not to be sold a dud agreement by Qantas using pathetic threats then this is it.
Even our most gullible colleagues that have sadly been repeatedly bullied by relentless propaganda must finally be questioning this utter insult.

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