AJ announces $90M QF staff bonus
 

Just received news that all Qantas staff who had accepted the 18 month wage freeze will get a 5% cash bonus. Those yet to accept the freeze will get the bonus once it's agreed.


Happy days......

Sounds like a pretty big remuneration package on the way.

So I was just working it out on my contract and the 5% is almost identical to the 18 month pay freeze if I could have expected 3% per year during that time. Seems a bit weird. Good to see a bit of money back to the staff though, I am guessing the managers are up for a massive bonus then.

Ollie,
I'm a terrible mathematician, but I still think they are saving a heap of cash.
Because our annual pay increases (ie 3%) compound over each EBA, by pausing the increases for 18 months over the last couple of years, it will mean lower actual pay rates over the coming years. So they can give us this chunk now, but will still be saving cash into the future.

Thats true, and I guess that they also save as there are now superannuation payments etc on the bonus.

Joyce must be inline for one big bonus and is softening it by sharing some love.

I'll take my 10k. Pity it's not 10 mill.....

I assume that the $90 million figure will be the total cost to award EVERY elidgable staff member their 5% bonus assuming that everyone eventually accepts the pay freeze, even if it takes 3 years. It will be interesting as if you still have a contract coming up for negotiation then I assume you would still not want the pay freeze as the 5% won't cover the loss of pay rise.

Bloody Joyce, bloody Qantas, bloody pay freeze, bloody this, bloody that.....Oooooooh a shiny thing.

Give me a break! This is a bribe and nothing more, they take $10000 and give you back $3000, the rest goes into their pockets. We all accept the money because we need it, we have no choice. Bonus my arse! Don't give them an ounce of credit, maintain the rage, we deserve better.

I would be surprised if the calculation were so simple, management tend to get larger bonuses than front line staff.

5% of a 500k widebody command salary tends to be a bit more than $3200 too :)

Once the LH EBA is ratified of course

Smoke and mirrors my friends, all smoke and mirrors!

Let's get "the book" published and out there, then talk about "bonuses"!


Happy landings :ok:

Angryrat, turns out it wasn't the calculator, it was the idiot operator :} Cheers fellas.

should QF be wasting this money ?


Wasn't long ago everyone was saying qf int was dead.

BNEA320, how on earth can you suggest that a company paying its staff is "wasting" its money?

These staff agreed to a pay freeze that will save Qantas 4.5% from their wage bill every year going forward. A 5%, one-off bonus is a small impost by comparison.

In a year when Qantas stands to make close to a billion dollars profit, management will be collecting significant performance bonuses and staff engagement is still battered from massive layoffs and a pay freeze, surely a gesture of good faith towards your staff is a (rare) sign of good management.

You want to see what it means for an airline to "waste" it's money, go read the thread about Jetstar Hong Kong!

I'd consider it wasted if I was on the outside looking in, eyes filled with spite.

Personally I think it's a great result for the LAME employee group, I was more then happy to take an 18 month pay freeze to allow some of our fellow sacked workers a chance to come back, this bonus is icing on the cake.

Does anyone know when we will actually see the $$$ ???

The cheques in the mail....

In all seriousness, August.

Pedant alert
 

It's "cheque's" GG:rolleyes:

Sorry for the thread drift however this is a real bug bear of mine. If we want to be taken seriously as the "professionals" we purport to be then at least take the time to review posts before submitting.

Rant over.:ugh:

Double pedant alert
 

Actually, it's "the cheques are in the mail". Assuming there will be more than one cheque... :)

The word "however" doesn't work as a subordinating conjunction.

You really should say "Sorry for the thread drift, but this is a real bug bear of mine". You could use the word "however", but in this situation a semicolon or full stop should precede it. :)

Game, set and match to Derfred. :ok: