Avantair pay cut vacay elimination

[Praetorian]

Ran into one of your guys in the hotel lobby the other day. He said your mangt. is asking you to vote on 3 choices for a pay cut and are eliminating your vacation. Whats the word on all this?

 

[jonjuan]

Something's going on. It's been 4 months since the last "quarterly" earnings announcement. Quite a bit of management turnover and management pay reductions that was purposely released by the company and reported on financial sites.

 

[RoughAir]

All pilot pay was cut about 10-15% except for the year one hires. Other employees also taking pay cuts. No new hiring.

Ex: Year 4 PIC under old scale was $66000/yr New pay: $60998
Year 4 SIC under old scale was $46000/yr New pay: $41750
Year 8 PIC under old scale was $98000/yr New pay: $79662

Per diem cut in half from $2.00 to $1.00 per hour.

One week vacation per year.

New pay scale in effect for 5 years.

Board of Directors compensation package reduced. President Steve Santo takes cut. COO resigned Aug 31. CFO resigned several months ago.

FY 2012 annual report due out this month. Standby....

 

[brokeflyer]

so the boss takes a 13% cut....which is nothing to a $525,000 yr salary. but makes a 8 yr PIC take 20% cut from 98,000? idiots

Sounds like you need a union over there.

 

[RoughAir]

There was a union effort going on there about a year ago, but fizzled out.

 

[gunfyter]

Well ... union probably couldn't stop something like this... and then just would have been blamed....

 

[OPECJet]

One week of vacation? Ouch!

 

[DUATS]

Stock price is sitting at about 65 cents a share. Ran an ad for pilots last week that said, "Need resumes this week". I'm picturing Leo and Kate leaning over the front of a Piaggio......

 

[Praetorian]

Well ... union probably couldn't stop something like this... and then just would have been blamed....

Your right. But it's interesting this happened not long after the threat of the union went away. Shows how hollow typical management promises during a union campaign are.

 

[BE40Driver]

Your one to talk Praetorian with your union company doing down grades with pay cuts. The company wanted to freeze pay for down grades, but your union said NO take a pay cut. NICE!