Originally Posted by flymeaway
The issue is that many employees are skeptical that the concessions are even necessary in the first place. Besides, the company said that there would be no snapbacks to previous wage levels. It's not that they need temporary cash to survive or even to expand - it's that they want to take advantage of the current climate to reduce their payroll liability. Or so it would seem.
There's a lot of contradicting info out there these days.
I think I can understand that position. Last time I saw a notice, CO had about $1.5 Billion in cash on hand, so maybe there is some truth to the fact that the consessions aren't necessary. However it is a fact that the company is losing money and unless it can be proven that the company would return to profitability next year without consessions, it still seems reasonable that wage reductions are necessary; particularly as all airliners have had to do so. I guess it's a no-win situation. I think if CO turned a nice tidy profit employees would be a very good position to request wage increases. Hopefully things in that industry will get better.