Airline CEO's taking pay cuts , Air NZ boss first.

[bob10]

My suspicious mind thinks they wouldn't be doing this if 1. they couldn't afford it 2 . there wasn't some bad news for employees to come.

Harassed airline CEOs start MeToo pay cut movement (https://www.msn.com/en-au/money/company-news/harassed-airline-ceos-start-metoo-pay-cut-movement/ar-BB112v8p?ocid=spartandhp)

[scarry]

Its really beyond me how those CEO's are worth their salaries.

Its just a joke.

I remember a few years Telstra wanted to get rid of some CEO,and they payed him $14M to go away[bighmmm]

Many wouldn't earn anywhere near that sort of money in a lifetime.And that would be working a lot harder than some of those CEO's.

[travelrover]

Its really beyond me how those CEO's are worth their salaries.

Its just a joke.

I remember a few years Telstra wanted to get rid of some CEO,and they payed him $14M to go away[bighmmm]

Many wouldn't earn anywhere near that sort of money in a lifetime.And that would be working a lot harder than some of those CEO's.

From the Archives: Sol Trujillo'''s $11.1 million farewell (https://amp.smh.com.au/business/companies/from-the-archives-sol-trujillo-s-11-1-million-farewell-20190225-p51009.html)

[Eevo]

Its really beyond me how those CEO's are worth their salaries.

Its just a joke.



because their managing a multi billion dollar company. its not like running the local fish n chip shop.

they are worth that much due to supply and demand and proven experience.

bad CEO's dont last.

[Geedublya]

because their managing a multi billion dollar company. its not like running the local fish n chip shop.

they are worth that much due to supply and demand and proven experience.

bad CEO's dont last.

Their time is also managed to the second, they're on the job pretty much 24/7. Admittedly some of the payments are outrageous especially performance payments for non-performance.

[Fourgearsticks]

Their time is also managed to the second, they're on the job pretty much 24/7. Admittedly some of the payments are outrageous especially performance payments for non-performance.
There are many other jobs that actually are on call 24/7 who get less than ordinary pay.

[rick130]

There are many other jobs that actually are on call 24/7 who get less than ordinary pay.That'd be Scary and me!

And Eevo, saying crap CEO's don't last is ridiculous.
It's an old boys club, we've all seen the bonuses and payouts of (generally) blokes that have damned near killed large companies.
And they look after their own, endong up on the board of another company, often in an executive position.

[JDNSW]

Justifying the "need" to pay these people that much seems to me to be a bit hard, given the the amount paid to their equivalents a generation ago, relative to average pay at the time, were far lower. Given some of the obvious incompetence shown by some of them (e.g. banks as revealed by the Royal Commission), it seems a bit hard to say they are that much better!

[travelrover]

A number of years ago I worked for EDS, founded by Ross Perot (Texan billionaire and two time presidential candidate) in the early 60’s.

The CEO and chairman at the time (Dick Brown) was voted in the top ten worst CEO’s in the USA.

The stock price had collapse under his ‘guidance’ from well over USD$100 to junk bonds..

He got fired but still walked away with a rumored USD$30m+. I don’t recall how much is retainer was but significantly more than his severance.

EDS fires Dick Brown • The Register (https://www.theregister.co.uk/2003/03/20/eds_fires_dick_brown/)

[JDNSW]

Getting back to the theme of the thread, didn't Alan Joyce of Qantas say he was forgoing his entire salary early last week?

The airlines are going to be in real trouble in the next few months. Probably at least a quarter of them will fail and either merge with another airline, get a government handout, or just disappear. This will leave a lot of near new airliners looking for a buyer. In this circumstance, who, exactly, is likely to take delivery of Boeing's some 400 747MAX airliners waiting for a software update that can be approved? And without customers paying for delivery of them, how long before Boeing's bankers seize them and sell them for scrap, together with anything else Boeing owns that is saleable? And then forces bankruptcy on what is left.

[Hugh Jars]

That'd be Scary and me!

And Eevo, saying crap CEO's don't last is ridiculous.
It's an old boys club, we've all seen the bonuses and payouts of (generally) blokes that have damned near killed large companies.
And they look after their own, endong up on the board of another company, often in an executive position.

Just look at Virgin Australia and its former CEO. The place has just about been destroyed. No accountability by the former CEO or current board...

[VladTepes]

jd that'd be 737MAX - and yeah most pf those won;t be baclk in teh air any time soon even with software updates.



The (expected) bad news has fallen today with QANTAS standing down 2/3 of its workforce - 30,000 people.
They can access annual and Long Service Leave but if they don;t have leave balances... leave without pay.

So how they are going to pay mortgages (let alone eat) is a mystery.

[Hugh Jars]

jd that'd be 737MAX - and yeah most pf those won;t be baclk in teh air any time soon even with software updates.



The (expected) bad news has fallen today with QANTAS standing down 2/3 of its workforce - 30,000 people.
They can access annual and Long Service Leave but if they don;t have leave balances... leave without pay.

So how they are going to pay mortgages (let alone eat) is a mystery.
It’s not just Qantas. Virgin Aust is copping it just as badly. We were supposed to have rosters last Friday. Hoping we have something this Sunday.
One thing’s for sure, our rostered flying will be cut by several days of leave without pay for the foreseeable future...

[ramblingboy42]

It’s not just Qantas. Virgin Aust is copping it just as badly. We were supposed to have rosters last Friday. Hoping we have something this Sunday.
One thing’s for sure, our rostered flying will be cut by several days of leave without pay for the foreseeable future...

aren't you on a salary?

do you lose pay if your'e not in the air?

[Hugh Jars]

aren't you on a salary?

do you lose pay if your'e not in the air?
We are on a salary divided by the days we work. So, for example - if we are stood down for half a roster, we get docked half our pay. Plus you lose any allowances you would otherwise have made, which can really add up.

[Eevo]

out of the 4 big airlines in aust, i think we could be witnessing the collapse of 2 or 3 of them.

i just hope the staff get all their pay, super and entitlements.

[ramblingboy42]

Every other Airline in Australia , has collapsed around Qantas in the past.

thats why the Qantas CEO gets paid the big bucks.

the British and the Yanks have tried to gain ownership on a number of occasions especially during and post WW11.

[ramblingboy42]

Qantas is more famous and much older than the Sydney Harbour Bridge.

Founded in 1920....the bridge 1932

[Eevo]

Qantas is more famous and much older than the Sydney Harbour Bridge.

Founded in 1920....the bridge 1932


so the bridge will collapse first?

[Hugh Jars]

Qantas is more famous and much older than the Sydney Harbour Bridge.

Founded in 1920....the bridge 1932
I still call Australia (51%) home.