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Airlines Going Under

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Airlines Going Under

Old 10th May 2020, 04:33
  #101 (permalink)  
 
Join Date: Sep 2009
Location: Hong Kong
Posts: 384
Originally Posted by controlledrest View Post
. Once the company is back in profit I would expect my sacrifices to be recognised and to share in those profits.
Such hopes are at best wishful thinking, and more likely, simply naive.

With all due respect, history has shown, that they have seldom, given anything back, once taken.
I would humbly suggest that unless our HKAOA obtain in writing, exactly what or how much of any concession will be returned once CX return to profitability, that the chances of a voluntary return is so slim a possibility, as to not being worth considering.
LongTimeInCX is offline  
Old 10th May 2020, 06:53
  #102 (permalink)  
 
Join Date: Apr 2019
Location: Hong Kong
Posts: 125
Originally Posted by LongTimeInCX View Post
Such hopes are at best wishful thinking, and more likely, simply naive.

With all due respect, history has shown, that they have seldom, given anything back, once taken.
I would humbly suggest that unless our HKAOA obtain in writing, exactly what or how much of any concession will be returned once CX return to profitability, that the chances of a voluntary return is so slim a possibility, as to not being worth considering.
I think we have to be realistic. The corollary of expecting a “payback” in good times would be to take a proportional cut during the bad.
At the moment we are obviously losing a lot of money far more that the monthly reduction due to SLS (cos18 excepted). Purely a personal opinion but I am amazed that we haven’t as yet seen redundancies. I know at times we all have our gripes about the company but talking to my mates in BA and Virgin is sobering ( normally it isn’t !)

AllWobbly is offline  
Old 10th May 2020, 09:49
  #103 (permalink)  
 
Join Date: Apr 2006
Location: Krug departure, Merlot transition
Posts: 568
I don’t think we would require being “paid back” any income lost during a (defined) period of hardship for the company, personally I would already be satisfied with not permanently give up any terms and conditions (which we would indeed never get back). In other words, any concessions made (such as a salary sacrifice) should be limited in time, after which an automatic return to current terms and conditions occurs.

Anything else is just trying to take advantage of the current crisis to permanently cut unit costs and our income/quality of life. If they don’t need our labour, redundancies are natural; but if they want to keep the frontline workforce intact in view of making a killing post-crisis, then asking for permanent concessions is not acceptable.
main_dog is offline  
Old 10th May 2020, 22:38
  #104 (permalink)  
 
Join Date: Apr 2009
Location: In Sin
Age: 50
Posts: 81
Do I want to be out of work?
Do I want a year of unpaid leave?
Should I stick to my rigid views about the company?

No .

I read about expats working for free in Vietnam. Donating their time to save the company.

Would you rather donate your time without pay or loose your job?

A bit like Ronald Regan who said he’d rather be dead than red .
TheGreenDragon is offline  
Old 10th May 2020, 23:49
  #105 (permalink)  
 
Join Date: Jun 2002
Location: Eden Valley
Posts: 1,815
Originally Posted by TheGreenDragon View Post
I read about expats working for free in Vietnam. Donating their time to save the company.

Would you rather donate your time without pay or loose your job?
GD

I hope you are OK. Tough times for many.

I read about one expat guy only? There's thread running over on the Far East forum. Not sure if that's your info' source and it certainly seems he's upset locals and expats alike. Some suggesting upsetting locals in that country means sleeping with one eye open for the rest of your contract!
Gnadenburg is offline  
Old 11th May 2020, 02:50
  #106 (permalink)  
 
Join Date: Sep 2014
Location: Asia
Posts: 111
Originally Posted by main_dog View Post
I don’t think we would require being “paid back” any income lost during a (defined) period of hardship for the company, personally I would already be satisfied with not permanently give up any terms and conditions (which we would indeed never get back). In other words, any concessions made (such as a salary sacrifice) should be limited in time, after which an automatic return to current terms and conditions occurs.

Anything else is just trying to take advantage of the current crisis to permanently cut unit costs and our income/quality of life. If they don’t need our labour, redundancies are natural; but if they want to keep the frontline workforce intact in view of making a killing post-crisis, then asking for permanent concessions is not acceptable.
Thanks for this very succinct and sensible post. It helped me clarify our position.
Bangaluru is offline  
Old 11th May 2020, 03:20
  #107 (permalink)  
 
Join Date: Mar 2014
Location: Hong Kong
Posts: 19
Perhaps a better way for the company to implement a temporary pay cut would to introduce a compensation scheme on salary sacrificing rewarded with Cathay Pacific share allocation. For example, for every HK$9 (being current share price) of pay reduction one CX share is allocated. These shares do not fully vest for three years or normal retirement, whichever comes first. If you leave before the three years you get zero. This keeps us all "in the game" and on side.
never ready is offline  
Old 11th May 2020, 05:26
  #108 (permalink)  
 
Join Date: Mar 2015
Location: HKG
Posts: 226
Not a bad idea.
controlledrest is offline  
Old 11th May 2020, 05:40
  #109 (permalink)  
 
Join Date: Nov 2005
Location: Extreme
Posts: 308
[/QUOTE]rewarded with Cathay Pacific share allocation
[QUOTE]

No. No. No. No.
They will just reissue a different class of share later and screw you.
Shot Nancy is offline  

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