BA workforce responds positively to management working request
Workers at British Airways have reacted positively to the management written request for assistance in reducing the airline's cost base. Originally Willie Walsh, the chief executive of British Airways, had asked up to 40,000 workers to give their services free for one month in an attempt to try and get the company back on track. However it has been revealed today that while many workers have volunteered to work up to a month with no pay there have also been concessions elsewhere.
It appears as though 4000 workers have agreed to take unpaid leave with an additional 1400 people volunteering to work part-time in the short to medium term. The company has confirmed that these changes will save in excess of £10 million a year and trim much of the fat from the airline giant. The company has certainly taken a different route to many others by offering a defined period of assistance from workers rather than a long-term reduction in hourly rates.
It will be interesting to see whether the company tries this particular tactic again in the future as and when they hit further turbulence in the very competitive airline industry. It is worth noting that Willie Walsh has given up £61,000 as his monthly salary to add his name to the list of unpaid workers.
Share this..
Related stories
Will the return of stamp duty kill the housing market?
The stamp duty holiday for the UK housing market is set to end on 31 December and there are concerns that early 2010 could see a slump in demand and a slump in prices across the UK. There is no doubt, as with the UK car scrappage scheme, there has been significant manufactured demand in the UK housing market primarily because of the extended stamp duty holiday. But is the UK property market able t...
Read MoreBritish Chambers of Commerce see painful and prolonged UK slowdown
The British Chambers of Commerce (BCC) has today called for government assistance after suggesting that the downturn in the UK will be both painful and prolonged and may last longer than many people have forecast. Like many economic experts, the BCC is also of the belief that unemployment will reach almost 3,000,000 and there is a real need for a change in fiscal policy in the short to medium term...
Read MoreThe Christmas shopping postcode lottery
An investigation by the Daily Mail has found potential evidence of a Christmas shopping postcode lottery whereby some items can cost as much as double in certain areas of the UK. One particular example given was the autobiography of singer Cheryl Cole which is said to cost £9.99 in WH Smith London stores, almost double the cost of the same item in the company's Glasgow store. While these claims a...
Read MoreWake up and smell the coffee
Coffee chain Coffee Republic has today been forced to call in joint receivers after a review of the business proved ultimately unsuccessful in finding a way out of the current financial situation. The company had been looking to renegotiate a number of rental arrangements with regards to a number of outlets but this appears to have fallen on deaf ears.
The company is simply a victim...
Can Gordon Brown really rescue his political future?
The last few months have seen a major change in the strategy of the Labour Party as they begin to jockey for position ahead of an expected election in 2010. Gordon Brown has undergone something of a major transformation which has seen him bring back old faces from past governments, bring back his old enemy and arch rival Lord Mandelson as well as throwing is fiscal golden rules out of the window.<...
Read More