March Roster Publication
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March Roster Publication
So March roster is in a Crystal ball.... Hmmmm
Will it be published before or after the Redundancies Notification?
Or are they using this as a stick too, sign up to SLS or else.....
Will it be published before or after the Redundancies Notification?
Or are they using this as a stick too, sign up to SLS or else.....
Join Date: Jun 2008
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Unforturnatly your proficy is wrong, they wouldnt be hiring and flying classes up from ADL is this was true. Take a look at the roster if your on the inside and see for yourself the large classes still starting.
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Flying classes from ADL will not make Corona beer virus go away.
They hired those before this pandemic, so they can easily and cheaply lay them off if need be.
It has happened in the past with major airlines like BA.
Thing is, don’t keep your head in the sand and hope it will go away or the company will keep paying top salaries for idle workforce
They hired those before this pandemic, so they can easily and cheaply lay them off if need be.
It has happened in the past with major airlines like BA.
Thing is, don’t keep your head in the sand and hope it will go away or the company will keep paying top salaries for idle workforce
Join Date: Jun 2008
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Flying classes from ADL will not make Corona beer virus go away.
They hired those before this pandemic, so they can easily and cheaply lay them off if need be.
It has happened in the past with major airlines like BA.
Thing is, don’t keep your head in the sand and hope it will go away or the company will keep paying top salaries for idle workforce
They hired those before this pandemic, so they can easily and cheaply lay them off if need be.
It has happened in the past with major airlines like BA.
Thing is, don’t keep your head in the sand and hope it will go away or the company will keep paying top salaries for idle workforce
Not if you understood the unbalanced seniority list here. A layoff here essentially means they throw in the towel.
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How long do you think this will last in a company the size of CX KA flying 40% of their schedules with unknown and severely degraded load factor, and what is the company’s reserve?
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No matter what type of seniority, fact is if as CEO said 25000 gave in on average HKD20000 which is HKD500mil.
How long do you think this will last in a company the size of CX KA flying 40% of their schedules with unknown and severely degraded load factor, and what is the company’s reserve?
How long do you think this will last in a company the size of CX KA flying 40% of their schedules with unknown and severely degraded load factor, and what is the company’s reserve?
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The most sensible comment of the month. As Controlled says, the Swires do what they wish, and the real state of affairs is hidden behind many layers of obfuscation. Although there is no doubt the current situation is financially very painful, don't be in any doubt as to how deep the reserves are to cover this...probably a 100X over. The fact is that many years ago Swire decided to keep CX's "profit" numbers to a respectable minimum (through said transfer pricing), to ensure minimal financial obligations to the staff. No matter the situation, the regular staff will never share in the good times, and be bludgeoned into sacrificing during the bad times. That is all a career here will ever be.
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The most sensible comment of the month. As Controlled says, the Swires do what they wish, and the real state of affairs is hidden behind many layers of obfuscation. Although there is no doubt the current situation is financially very painful, don't be in any doubt as to how deep the reserves are to cover this...probably a 100X over. The fact is that many years ago Swire decided to keep CX's "profit" numbers to a respectable minimum (through said transfer pricing), to ensure minimal financial obligations to the staff. No matter the situation, the regular staff will never share in the good times, and be bludgeoned into sacrificing during the bad times. That is all a career here will ever be.
Over the last 4 years, CX has squandered over 30 billion HKD on “fuel hedges” that were actually huge gambles. Had those bets paid off, do you think you would be sharing in the profits? No way, no how!!! However, those went all wrong and that portion of the cushion is gone. Is that the employees fault? Why do we have to pay for it?
Where are the shareholders? Swires, Mainland China, Qatar going to throw money at the crisis? I don’t think so. They know their investments are in jeopardy. Are they going to dilute their shares with any additional stock offering? Nope, they’ll just load the Company up with more debt, maybe debt that they will hold, with collateral of course.
Employees are the only ones being asked to give up 5.77% with nothing in return. Does it mean anything? No, three weeks pay from every employee in the Company doesn’t keep the lights on for even one week more. Ask yourself... If the Company goes under, do you want those three weeks in your pocket or theirs? It’s pretty simple math.
I feel sorry for all of you who got pressured into giving 3 weeks. Sadly, that’s how CX works. To those who want the time off anyways, good for you! I hope it turns into paid leave for you...
