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Southwest Pilots Fire Back at Company's Push to Cut Pay
The union representing pilots at Southwest Airlines (NYSE:LUV) is pledging to fight a plan by the airline to cut pay by 10%, setting up a showdown with management as the airline tries to cut costs and outlast the COVID-19 pandemic. Southwest and other airlines are coping with a pandemic-induced slump in travel demand and subsequent decline in revenue. The airline so far has been able to avoid furloughs thanks to a combination of federal assistance provided under the CARES Act and workers taking… (www.fool.com) Más...Sort type: [Top] [Newest]
Will the pilots "cut off their nose to spite their face" is the real question. With the CEO taking a pay cut, as in no paycheck, even if he will still make money in other ways, should tell the rest of the company that they should be willing to do what is necessary so no one is laid off.
CEOs do not take pay cuts. He is deferring compensation. Once this is over, he’ll be rewarded tenfold with bonuses and stock options etc. Pay cuts for pilots, on the other hand, will be permanent and they will take a decade to renegotiate the restoration of their sacrifice. In other words, the pilots will have lost 10% permanently. It has happened over and over and over in this industry, and yet there are still tools who advocate for the same suckers game every time. Disappointing.
it not just pilots.
unions have a spite mentality in general.
city water dep'ts are a good example. not suitable for an aviation blog, butt a good example.
unions have a spite mentality in general.
city water dep'ts are a good example. not suitable for an aviation blog, butt a good example.
Unions have their place in some instances, but there are union members that I have interacted with that I believe needs to have a reality check. I often here people saying that those who do not belong to a union should not be able to work. That they think people who do not belong to a union (and I know of no NDT/welding inspection unions) do not have a right to work. KMA, everyone has the right to work and enjoy the benefits of doing so, without having to pay for such a "right" to meet union demands.
I've read the same nonsense uttered by some unionist workers who have been programmed by a 1950's 'us vs them unions are my religion' mentality. When presented with the fact there is a good reason why just 7% of the private sector labor force is unionized, their knee jerk response is "you're a scab"....Or, 'you just hate the woikin( sic) man'.....I dismiss them with...."see the Priest on your way out. He'll punch your ticket for you"...
The decision by the company CEO is but a mere symbolic gesture.
A noble one , but with a $23b market cap,small amount.
But, it signals a roll up ones sleeves and come in for the big win.
This is what a good boss does.
Says to his employees, "I'm not going to ask my employees to do something I would not do myself".
A noble one , but with a $23b market cap,small amount.
But, it signals a roll up ones sleeves and come in for the big win.
This is what a good boss does.
Says to his employees, "I'm not going to ask my employees to do something I would not do myself".