Originally Posted by
KnockKnock
It’s not a true “profit sharing” program. It’s a performance based pay program. 70% is derived from profit the other 30% is based off of safety, customers satisfaction and costs. Those 3 non profit goal posts have a funny way of moving around year to year. Sorry to hear you guys got snubbed this year. What was your managements rationale behind cutting the pilots out?
They changed the formula before we agreed on our first contract. There was nothing we could do about it. They gave everyone an 8% raise when they changed it saying, "It's better to have the money up front, right?". The thing is, they knew we were getting close on a pilot contract and wanted to find a way to not pay out unless we made a ridiculous amount of money. The thing is, that 8% raise brought our agents and rampers up to par with their peers. The company sold it as kind of 'profit sharing up front'.
Also, there is a "cliff" to our profit sharing. They used to call it "guaranteed profit sharing" where you would get 5% of your wages put in to your retirement account no matter if a profit was made or not. That cliff applies to the pilots as far as profit sharing goes. In 2018, the profit sharing amounted to 5.2%. Since the cliff is in place, we were only paid 0.2% for profit sharing for 2018. Do the math. Most pilots saw a check for less than $400.00. Most agents/rampers saw about $40.00.
Evil.
GP