The Associated Press is reporting that British Airways is asking its staff to work blocks of time for no compensation. The staff’s still waiting for the punchline.
According to the AP, “British Airways PLC is struggling to come up with ways to save cash after reporting its biggest full-year loss since the former national airline was privatized in 1987. BA chief Willie Walsh has said he would not draw a salary for the month of July, and urged other employees to work for blocks of time without being paid.”
This isn’t the first time Willie has agreed to forego compensation. Last year, after the opening of Terminal 5 at Heathrow got screwed up, he waived his cash bonus of $1.14 million. And this year he’s already waved his stock bonus of $902,000.
He did, however, give himself a nice 6% pay raise for the coming year, which will bring his annual salary to $1.2 million, plus $1.8 million in deferred stock bonuses.
But, still, Willie, it’s really nice that you’re giving up that $101,000.
There’s a quote in The Times of London from an unnamed cabin crew member who’s base pay is just $18,000 a year. She says BA staff is treating it like “a joke.”
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