Citationshares lets 30 go

[jehtplane]

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.

What is furlough pay?

 

[ominbnd]

What is furlough pay?

Great question. an Asst. Chief Pilot apparently made that statement, but didn't define it further. My "guess" is that it would be regular pay for a couple of months.

 

[sweptwingz]

I'm sorry, C.S.. All of the Shares folks I've met on the road have been nice folks. Hang in there.

 

[Semore Butts]

As I said on the other XOJET thread

As someone who has lost a job at Christmas time.

I'm very sincerely sorry for those affected. In fact, It affets us all.

Good luck to you and hopefully you will be put on an even better path soon.

Semore

 

[Chewbacca]

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.

 

[glasspilot]

Having a good thought for all those affected. I wish I had something smart to say.

 

[fob727]

its true just read email awhile going in reverse order said if some senior hags would go they wouldn't have to furlough

Senior hags?? Get out of my way so I can get mine?? Great attitude, junior.

 

[av8trinabarrel]

I highly doubt that he is the only one on here that feels a few elder gentlemen have overstayed their welcome at their respective airline/fractional. Hell, my dad is one of em..retired airline and now frac captain. I see both sides of the argument. If you were just thrown by the wayside like so many have lately, you might understand JUNIOR's frustration. By the way, my dad is the best pilot on earth..for an old guy!

 

[ominbnd]

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.

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.

I'm willing to bet what little is left in my 401k that there's more going on here than they're saying. No proof, just a gut feeling.

 

[vrb115]

I'am not so junior in age FYI these guy pushing 70 with kids out of college so on and so forth get out of the way so i can put my kid thru college can't get aviation out of blood rent an airplane for christ sake not trying to be an ass but it is what it is let the young bloods make a living they'll all be dead soon anyway LOL if they have not saved enough buy now shame on them i planned on retiring by age 58 thats out the window with the old timers taking up space sorry but that is the way i feel about it