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Profit sharing

Old 31st Aug 2013, 02:13
  #1 (permalink)  
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Grrr Profit sharing

Did I miss it or was profit sharing announced for CX/KA employees? After giving themselves raises AND bonuses, you'd figure they would throw us peasants some bread! At least if they are going to screw us yet UGAIN, they would have the common courtesy to tell us.

Now that the Aussie dollar is falling, will more Aussies leave?

Well done CX/KA, keep the exodus going!
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Old 31st Aug 2013, 02:35
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Profit share... dream on

How many Aussies have left or will leave...probably none.
Will CX care if they leave, probably not...they're all top end salary scalars, will save the company money.
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Old 31st Aug 2013, 03:55
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Umm: if the AUD is falling, wouldn't that make it more attractive to stay??

(edited 'cos I can't write.)

Last edited by China Flyer; 31st Aug 2013 at 03:56.
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Old 31st Aug 2013, 06:35
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Not if your retirement nest egg is in USD/Euro etc, and you plan on retiring to Ozz. Cheaper Oz dollar = more Oz dollars per USD.
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Old 31st Aug 2013, 07:47
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A lot of senior crew are just waiting for the Oz dollar to drop a bit more ( already down from 8 to 7 ) and they will retire. Work it out yourselves, it can make a big difference.........

I think you'll find that if and when the Oz dollar drops to 6 quite a few HK based chaps with more than 20 years service might just find it too tempting and cash out their chips....

Last edited by nitpicker330; 31st Aug 2013 at 07:52.
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Old 31st Aug 2013, 08:12
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5-6yrs ago it dropped to 5ish to the HK dollar and 5-6yrs before that it was 5ish so this could be the year.

You'd be nuts not to cash out of HK if you plan on retiring in the next 5 yrs.
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Old 31st Aug 2013, 09:40
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I'm sure there will be another Cargo price fixing fine we don't know about yet so don't expect any breadcrumbs.
What's the point in all this micro fuel management when all is undone with yet another fine.
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Old 31st Aug 2013, 10:24
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The cargo price fixing fine could very well be peanuts compared to the French one coming soon!
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Old 1st Sep 2013, 00:21
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Fuel saving

They talk about how saving 17kg of fuel per sector all adds up......
But they stand by when, for instance, the clowns in IOC completely lose the plot such as last years typhoon direct hit. Unnecessary ferrying of aircraft all over the world because there's nothing "integrated" about IOC. It's a bunch of different people making a bunch of different decisions without ever talking to each other.

So as long as they're happy to piss away a few thousand tonnes at least once a year because of IOC's woeful performance, I can't see why we'd all sit on the edge of our seats for 16 hours a few times a month. And then be told we're not worth a pay rise to boot.
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Old 1st Sep 2013, 03:38
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They talk about how saving 17kg of fuel per sector all adds up......
But they stand by when, for instance, the clowns in IOC completely lose the plot such as last years typhoon direct hit. Unnecessary ferrying of aircraft all over the world because there's nothing "integrated" about IOC. It's a bunch of different people making a bunch of different decisions without ever talking to each other.

So as long as they're happy to piss away a few thousand tonnes at least once a year because of IOC's woeful performance, I can't see why we'd all sit on the edge of our seats for 16 hours a few times a month. And then be told we're not worth a pay rise to boot.
Sad but very true!
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Old 1st Sep 2013, 13:04
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Old 1st Sep 2013, 23:55
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This isn't the right time of year for a profit share announcement. We do t announce our annual results for several months yet.
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Old 2nd Sep 2013, 10:07
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Join Date: Dec 1999
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I was thinking the same thing. Perhaps he is thinking of the ADB. Once known as the 13th month.
Perhaps...but wrong time of year for that too!
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Old 2nd Sep 2013, 10:27
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Profit Sharing?!.....hahahah....
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Old 2nd Sep 2013, 14:00
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Profiteering

Profit share won't happen. Management have wanted to introduce profit share for years, but those who dwell within the Swire Kingdom won't allow CX management to share the spoil. in reality there isn't enough gravy to spread over all the dumplings. This is an integral business tactic promoted originally by Mayer Rothschild, and it makes good business sense. Not everyone gets the gravy.
Also profit sharing at the lower levels of the company doesn't work because frontline workers don't make the really big decisions, management do. Therefore the current system really works quite effectively with management bonus supplements and no profit sharing company wide being the most sound business structure.
Never forget why the big bucks stay at the top level - 'with responsibility comes accountability, and rewards'.
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Old 2nd Sep 2013, 20:58
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Join Date: Nov 2007
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Absolutely right.

The illusion of profit sharing is a carrot to hold in front of office staff. The numbers of days gone by will never happen again. With the multitude of black holes (forward payments, hedging, shell games between divisions), the accountants who run the airline will ensure that the only people who receive anything will be those with 'bonus' in their pay structure.

One week or $6000 is as good as it's going to get. If you're at an entry level position, it looks good. If it's less than what you see in allowances in a month, not so much.
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Old 2nd Sep 2013, 22:17
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I'll just leave this here ...

DailyTech - Lenovo CEO Shares Bonus with Workers for a Second Year
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Old 3rd Sep 2013, 01:39
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Personally I don't need the profit share.

I'll be happy with a giant cardboard cutout of a life size cartoonish pilot that says, 'Worlds most bestest pilot in the world'. Then I want to be allowed to do a one man flash mob dance in my full uniform on the street.

At some point I would most probably be arrested.......
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Old 3rd Sep 2013, 03:28
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Never forget why the big bucks stay at the top level - 'with responsibility comes accountability, and rewards'
too true except of the course the "accountability" bit. Not many top management people seem to be held accountable these days.
The fuel hedging amongst other things springs to mind
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Old 3rd Sep 2013, 05:34
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Join Date: Mar 2013
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Claus, the company knows most expats or anyone with a brain wont buy the cartoon cardboard sh*t. Its only to fool those naive locals who believe everything on a superficial facet.
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