What is furlough pay?30 pilots will be furloughed in inverse seniority. 8 office staff will be gone. (Fortunately they just promoted 3 or 4 to VP so there'll be mroe oversite of those left standing). There is an opt-out for people who who want a lump sum, 1 month pay for every year's service up to nine years. They're offering LOA. Demoting up to 13, and demoting up to 18 supervisory pilots (though they haven't said how the supervisory's will get chosen, but I hear that it's merit based...whatever the f that means). Official notices go out on 12/22. I've heard that they will pay furlough pay until March, though they haven't actually said that.
Yeah, except that their retirement has probably tanked as musch as yours and they have lots more to lose. Dont expect a lot of these guys to walk away under the "great" buyout. They may take the LOA for a few months though.CS is offering a great buy out plan for people, up to 9 months salary to leave. Since CS has about 70+ pilots over 60, there may be some people in a reasonable financial position to take that.
Also the "up to 30" pilots are pilots that were hired based on future aircraft deliveries, since those aircraft are not coming now, they are overstaffed.
Its not managment, its the economy stupid. I wish everyone at every aviation company the best of luck while we are ALL being affected.