IAG: BA restructuring may cost 12,000 jobs
Thread Starter
IAG: BA restructuring may cost 12,000 jobs
Reuters (28th April 2020) is reporting that IAG is in talks with BA unions about widespread redundancies.
https://www.reuters.com/article/brie...-idUSFWN2CG13O
Best of luck to all.
* RECOVERY TO LEVEL OF PASSENGER DEMAND IN 2019 IS EXPECTED TO TAKE SEVERAL YEARS, NECESSITATING GROUP-WIDE RESTRUCTURING MEASURES* IAG IS NOT CURRENTLY PROVIDING PROFIT GUIDANCE FOR 2020* GROUP EXPECTS ITS OPERATING LOSS IN Q2 TO BE SIGNIFICANTLY WORSE THAN IN Q1
* LIKELY THAT RESTRUCTURING AND REDUNDANCY PROGRAMME WILL AFFECT MOST OF BRITISH AIRWAYS’ EMPLOYEES AND MAY RESULT IN REDUNDANCY OF UP TO 12,000
* LIKELY THAT RESTRUCTURING AND REDUNDANCY PROGRAMME WILL AFFECT MOST OF BRITISH AIRWAYS’ EMPLOYEES AND MAY RESULT IN REDUNDANCY OF UP TO 12,000
Best of luck to all.
Not entirely unexpected. We shall see what sort of (if any) kind of package is offered.
Good luck everyone.
Good luck everyone.
...and 4,500 of those are pilots.
https://mediacentre.britishairways.c...actsheets-3/33
Good Luck to all those affected by this.
https://mediacentre.britishairways.c...actsheets-3/33
Good Luck to all those affected by this.
Last edited by Auxtank; 28th Apr 2020 at 17:51.
Join Date: Apr 2020
Location: London
Posts: 3
Likes: 0
Received 0 Likes
on
0 Posts
"Employees get:
1.5 weeks’ pay for each full year of employment after their 41st birthday
a week’s pay for each full year of employment after their 22nd birthday
half a week’s pay for each full year of employment up to their 22nd birthday
Length of service is capped at 20 years and weekly pay is capped at £538. The maximum amount of statutory redundancy pay is £16,140."
Of course, the BA guys and girls joining those from Flybe and Thomas Cook ..... unprecedented
Join Date: Apr 2012
Location: Uk
Posts: 0
Likes: 0
Received 0 Likes
on
0 Posts
https://www.gov.uk/redundancy-your-r...redundancy-pay
Join Date: Oct 2002
Location: sussex
Posts: 613
Likes: 0
Received 0 Likes
on
0 Posts
'Restructuring' means contracts and Ts and Cs out of the window, as well as Redundencies/Severance.
My thoughts are with all affected.
My thoughts are with all affected.
Last edited by stormin norman; 28th Apr 2020 at 18:19.
Join Date: Apr 2004
Location: A
Posts: 40
Likes: 0
Received 0 Likes
on
0 Posts
It could be, although if BA paid the statutory minimum redundancy pay (and I accept that is a big 'IF') then it would actually be quite inexpensive compared to pilot's salary. From gov.uk website:
"Employees get:
1.5 weeks’ pay for each full year of employment after their 41st birthday
a week’s pay for each full year of employment after their 22nd birthday
half a week’s pay for each full year of employment up to their 22nd birthday
Length of service is capped at 20 years and weekly pay is capped at £538. The maximum amount of statutory redundancy pay is £16,140."
"Employees get:
1.5 weeks’ pay for each full year of employment after their 41st birthday
a week’s pay for each full year of employment after their 22nd birthday
half a week’s pay for each full year of employment up to their 22nd birthday
Length of service is capped at 20 years and weekly pay is capped at £538. The maximum amount of statutory redundancy pay is £16,140."
My company offered it with an uncapped weekly pay for instance. Unions will negotiate .
Join Date: Dec 2008
Location: uk
Posts: 913
Likes: 0
Received 0 Likes
on
0 Posts
Join Date: Apr 2020
Location: London
Posts: 3
Likes: 0
Received 0 Likes
on
0 Posts
Yes as I said in my post it is unlikely BA would pay the statutory minimum. As for the unions negotiating I can't see how they will have much power now.
Join Date: Jan 2018
Location: Centre of Universe
Posts: 140
Likes: 0
Received 0 Likes
on
0 Posts
What about Lingus and Iberia.
And the Italian Government bails out Alitalia and Air France get a big wad of Government cash.
Just goes to show where employee's are on BA's ladder.
And the Italian Government bails out Alitalia and Air France get a big wad of Government cash.
Just goes to show where employee's are on BA's ladder.
Join Date: Sep 2007
Location: UK
Posts: 1
Likes: 0
Received 0 Likes
on
0 Posts
Join Date: Apr 2010
Location: Singapore
Age: 57
Posts: 1
Likes: 0
Received 0 Likes
on
0 Posts
Who would have thought a company making 2 billion profit would turn around and axe 1/4 of its workforce when the going gets rough? Apart from the staff working for BA, of course, who know what a ruthless, heartless bunch they are.
Surely it doesn't matter how much cash is pumped in, demand for travel will be alot less so a reduction in work force is inevitable in any company. Cash just keeps the lights on for longer at the moment.