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British airways says 800 staff to work for free
inspector_monkfish
Posts: 9,276 Forumite
15:56 25Jun09 BRITISH AIRWAYS SAYS 800 STAFF TO WORK FOR FREE<BAIRY.PK><BAY.L>
LONDON (AFP)--Troubled British Airways said Thursday that 800 staff had agreed to work for free for up to one month, forming part of almost 7,000 workers who had accepted pay cuts to help the carrier slash costs.
LONDON (AFP)--Troubled British Airways said Thursday that 800 staff had agreed to work for free for up to one month, forming part of almost 7,000 workers who had accepted pay cuts to help the carrier slash costs.
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Someone in the Question Time audience, suggested that if the CEO and board of directors worked for free for a few months, there would be no need for other staff to take a pay cut.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
How close does the company have to be to going bust before it asks people to work for free ?I'd be taking a month off to look for another job0
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A month for free is an 8% pay cut AND it's temporary AND can be spread over 6 months.How close does the company have to be to going bust before it asks people to work for free ?I'd be taking a month off to look for another job
And after tax the cut will be even less. And with deflation it softens the blow. I would have volunteered at least 2 weeks of my pay. I'm amazed so few took up the offer.
There are lots of companies making people take 10% permanent cuts.0 -
The CEO (Willie Walsh) and CFO are working for free in July. Willie Walsh didn't take his bonus last year and has cut the number of senior managers in half. The BA cabin crew are paid twice as much as their Virgin Atlantic peers (30K compared to 15K). Richard Branson quickly realised that when you offer a glamorous transatlantic lifestyle to staff the demand for jobs will be strong despite mediocre monetary remuneration.MissMoneypenny wrote: »Someone in the Question Time audience, suggested that if the CEO and board of directors worked for free for a few months, there would be no need for other staff to take a pay cut."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
MissMoneypenny wrote: »Someone in the Question Time audience, suggested that if the CEO and board of directors worked for free for a few months, there would be no need for other staff to take a pay cut.
They couldn't have been very good at maths then.
Assume the board has 8 members and earns a total of £3m a year (too high as most will be non-exec anyway). And assume 4 months of free working is £1m.
If all 40,000 staff worked free for 1 day. ONE DAY. It would save £9 million.0 -
They couldn't have been very good at maths then.
Assume the board has 8 members and earns a total of £3m a year (too high as most will be non-exec anyway). And assume 4 months of free working is £1m.
If all 40,000 staff worked free for 1 day. ONE DAY. It would save £9 million.
So the average staff member is on £225 per day then? I have my doubts somehow...... :rolleyes:
Rob0 -
MissMoneypenny wrote: »Someone in the Question Time audience, suggested that if the CEO and board of directors worked for free for a few months, there would be no need for other staff to take a pay cut.
Then they don't understand what dire straights Ba is in financially.
As may run out of money.
40% of their premium passenger traffic was bankers.......
Inefficent compared to other airlines with a much higher cost base.
Still too unionised to be saved perhaps?0 -
I'd consider waiving salary so long as employer and employee pension contributions were maintained. Esp. if it mean I kept under the 40% tax band for the year.0
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What I'd be doing as well. Branson will be recruiting if they go t1ts up.How close does the company have to be to going bust before it asks people to work for free ?I'd be taking a month off to look for another job
I came in to this world with nothing and I've still got most of it left. :rolleyes:0 -
Mugs...........Not Again0
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