Originally Posted by
ClutchCargo
An excerpt from the block 6 reps letter:
◾With 5, 10, or possibly 15% in givebacks in work rules, how many pilots might not be hired, down bid, or furloughed to acquire adequate staffing levels?
What does this even mean?
I will be writing to said rep for clarification.
Borrowed from another thread, what FedEx has told investors, as reported by Motley Fool:
5 Things FedEx Management Wants You to Know
Here's #3, highlights mine:
New pilot contract won't hurt earnings
"We think it's a win-win contract. It is in our outlook for not just this year but our strategic outlook [...] where we [...] are expecting to continue to grow our earnings, our cash flows, and our returns." -- FedEx CFO Alan Graf
FedEx reached a tentative contract agreement with its pilot union last month. The pilots haven't ratified it yet, but if they do, they will get raises averaging 10% in November, with steady annual raises for the next five years. The agreement also provides a signing bonus of $20,000-$35,000 (depending on seniority) to make up for missed raises in the past couple of years.
While this was a fairly generous contract offer -- and FedEx's pilots were already near the top of the industry in pay -- FedEx's management stated that it won't impact the company's projected profit growth trajectory. Other productivity-enhancing initiatives will more than offset the pilots' higher pay.
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