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This Friday?

Old 9th Oct 2020, 07:00
  #1 (permalink)  
Thread Starter
 
Join Date: Mar 2015
Location: Australia
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This Friday?

Doesn't seem like today's the day.

Considering we're in the fourth quarter where the restructuring plan was meant to be announced and the group is losing 2 billion HK$ a month, each Friday that passes doesn't help the bottom line.

Place your bets.
Avinthenews is offline  
Old 9th Oct 2020, 08:10
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Join Date: Dec 2010
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All these emails about checking the accuracy of your registered bank account name sound like a clue to me.

Somehow I doubt the rather mundane HK Interbank Clearing Ltd would give such a tight deadline for a minor issue, but then what do I know...
On the other hand, if I was an employer forced to make a bunch of redundancy payments after Oct 15, especially if the payees have no access to the CX intranet anymore to make modifications to their banking details, I'd try to make sure that everyone sorts it out beforehand to avoid myself some headaches.

What day does the AOA recognition agreement with the company end again?

I dunno... I'm probably just reading into things.
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Old 9th Oct 2020, 09:56
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Board hasnít convened. No announcement till November.
ron burgandy is offline  
Old 9th Oct 2020, 12:37
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Yes, they are currently occupied baking cakes , taking yoga lessons and conjuring up different ways of saying how concerned they are about peoples' mental health. Once that's all done we might get a decision?
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Old 9th Oct 2020, 13:07
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Originally Posted by cabbages View Post
Yes, they are currently occupied baking cakes , taking yoga lessons and conjuring up different ways of saying how concerned they are about peoples' mental health. Once that's all done we might get a decision?
One can but hope. 🙄
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Old 9th Oct 2020, 13:12
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Join Date: Sep 2000
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At least November, maybe end of Q4, just in time for Christmas

They're taking a leaf out of my book - procrastinate as long as humanly possible.. After all, there could be light at the end of the tunnel. If not, we're buggered.
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Old 9th Oct 2020, 13:18
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The decision will come. Whatever that decision is, it will affect CX, KA or HKE...

It would seem that management put their bets on this being blown over after a few months, it hasn't worked out that way... so shame on them! (because we know better!)
Bet you if this had blown over in a few months, we'd be praising them for a good job keeping us employed as opposed to sacking us like BA, EZY, WZZ etc etc etc..

Imagine the following:
-Virus hits the world
-2 weeks later, CX sacks 50% of its pilots, BA keeps all pilots
-4 weeks later, virus gone... praise for BA management for not overreacting.. shame on CX for sacking people...

Imagine this:
-Virus hits the world
-2 weeks later, BA sacks 50% of its pilots, CX keeps all pilots
-4 weeks later, virus gone... praise to CX management for not overreacting.. shame on BA for sacking people...

Just like how pilots can never win, nor can management....... and yes, I am just a pilot, and yes, I hope the company does all it can to keep us together so that non of us has to be unemployed.

Being PPRuNe, don't you worry, I've got my own popcorn set up for my own roasting... and yes, i've had a few...
schweizer2 is offline  
Old 9th Oct 2020, 14:11
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Join Date: Jun 2020
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Imagine this:
The protests and trade war triggered CXís problems, the china plague exacerbated it, and the national security law potentially kills the company.
Only itís not imagination, and therefore deep structural changes coming. Sadly so.
Curry Lamb is offline  
Old 9th Oct 2020, 14:39
  #9 (permalink)  
hyg
 
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schweizer2

yeah but your example quoted 1 company when pretty much entire world is taking drastic actions....Sure to succeed you have to go against the flow, but its record has told us that CX management doesn't really have what it takes to bet against the odds and win do they?
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Old 10th Oct 2020, 07:26
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Join Date: Jul 2013
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This is incorrect. There are a number of airlines that have not finalised layoffs.

Not entirely coincidental, these said airlines have received state aid and/or the state is a shareholder.

Sam Ting Wong is offline  
Old 10th Oct 2020, 08:54
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Join Date: Jul 2018
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optimism but I feel it is misplaced and you are in for a huge shock. (let us hope I am wrong ).
The SwireCX Board do not meet until 2nd November and I am told this is a zoom briefing on proposed restructuring.
Then there is scheduled a Full Board Meeting in London ( not HKG due quarantine requirements ) the following Monday at which time the decision will be made.
The stock exchange in HKG must be briefed before any announcement and that is always in the SCMP the day before in the business/stock announcements section.

So, you do the maths but I have heard the new contracts must be in place before 1st December to avoid having to pay KA their 13th month.
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Old 10th Oct 2020, 23:50
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Join Date: Jun 2002
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Originally Posted by unitedabx View Post
Let me be clear. I am not trying to set KA pilots against CX pilots or vv.
I have retired to a small village in Essex which boasts one pub, one post-office and a Spar supermarket plus 2 retired Swire/CX middle managers (both non pilots ).

Thats all I'm saying.

At your age, you should be more worried about coughing yourself death with COVID, rather than seeking warmth from attempting to unsettle former colleagues.

You've a long history of being incorrect. I think your Swire friends are having a lend of you.

Eventually you will come close. But don't anyone forget a long list of bitterness and inaccuracy in prophecy.
Gnadenburg is offline  
Old 11th Oct 2020, 03:42
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I think you'll find I'm more right than wrong but for many accepting the inevitable is very hard. If a moderator is reading this then I think the "death wish" you wrote is sufficient to have you banned. Meantime I wish everyone health and peace of mind. Look after your families and yourselves. That includes you Gnadenburg.
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Old 11th Oct 2020, 05:21
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Join Date: Aug 2015
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I sincerely hope Herr Gnadenburg doesnít get banned, as he at least adds some balance to the debate. Unlike Unitedís inside info, apparently from such reliable sources as Willy Walsh, to alleged insiders on the Swire board, none of which has proven correct, since he started posting vicariously during the protests of last year until now.
Of course something unpleasant is forthcoming. Doesnít take a genius, or a lurker from retirement with contacts on the inside, allegedly, to tell us that.
Enjoy your retirement, and the apparent abundant fruits of your labours.
And [email protected] off and stop adding to the level of stress and concern on here by posting sh**e.

Last edited by MENELAUS; 11th Oct 2020 at 07:16.
MENELAUS is offline  
Old 11th Oct 2020, 06:21
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Originally Posted by unitedabx View Post
I think you'll find I'm more right than wrong but for many accepting the inevitable is very hard. If a moderator is reading this then I think the "death wish" you wrote is sufficient to have you banned. Meantime I wish everyone health and peace of mind. Look after your families and yourselves. That includes you Gnadenburg.
4:42am in Essex. Sounds like you are loving 'retirement'.
Shoebox is offline  
Old 11th Oct 2020, 07:10
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Join Date: Apr 2018
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Jeez some pathetic old losers on this forum.

For those of us still here and waiting for the axe to drop, good luck to us all! Every month I still get a pay cheque feels like a bonus now. Every month I add as much of it as possible to the rainy day fund. No point in worrying too much about things you can't control, life goes on.
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Old 11th Oct 2020, 22:31
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Join Date: Jul 2013
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Time will tell, United. Looks like layoffs are unavoidable, question is about T&C of those remaining..

As you said, let's hope you are wrong :-)
Sam Ting Wong is offline  
Old 12th Oct 2020, 00:19
  #18 (permalink)  
 
Join Date: Jun 2002
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Originally Posted by unitedabx View Post
I think you'll find I'm more right than wrong but for many accepting the inevitable is very hard. If a moderator is reading this then I think the "death wish" you wrote is sufficient to have you banned. Meantime I wish everyone health and peace of mind. Look after your families and yourselves. That includes you Gnadenburg.
I'm sorry you feel that way. There was no Death Wish at all, I was merely extending my concerns, that you have some longevity metrics you need to be concerned about rather than bitter trolling. It's also somewhat obtuse, you wish everyone piece of mind, when you have a history of wild and unsettling rumour mongering.

Though how good are your rumours? Restructuring means job losses and dare I say there is wide acceptance from colleagues- yet your Doomsday date has been in perpetual motion. You missed the big mid-year scoop of a government bail-out and another wayward fuel hedge. Are your two friends really ex-Swire? Because there was almost panicked leaking of this in the high end of town many weeks prior.

If you were uncomfortable with my retort please report it to moderators. It could be just like them old days where you could report colleagues in anonymity.

Gnadenburg is offline  
Old 12th Oct 2020, 00:38
  #19 (permalink)  
 
Join Date: Aug 2006
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unitedabx

I think you’re a little out of touch old boy.

The days of the minority shareholder dictating to the other 60% how CX will be run is over. How many board members is Swire down to? 6? Out of 17. 19 if you include the 2 non-voting directors appointed by the Hong Kong government who are required to attend and observe every board meeting. I highly doubt they’ll be traveling to London to meet in the offices of a minority share holder, and I certainly doubt the Beijing based directors will go there.

You’re fellow drinkers in Essex may well know what angle some directors of the board are taking, but unlike in the days of old, their influence over the CX board is now proportional to their numbers.
Progress Wanchai is offline  
Old 12th Oct 2020, 01:14
  #20 (permalink)  
hyg
 
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I don't think he's familiar with the Chinese business structure.

Regardless of what business it is, any 'strategic' business that the CCP has a hand must have a 'Party nominated secretary'. This position has more power than anyone in a company, including the guy who allegedly owns it, ask the owner of Wanda Group, Alibaba, Tencent etc....the truth is, the Swires will have a say, but only after they get the nod from the party nominated secretaries...
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