Some sad news at Flex
 

Well, what we all thought was possible, but hoped would not happen, did.
Message from the Boss saying layoffs were in the works. Looks like 25, from the bottom up are going to be let go.
He did mention they were working on some kind of severance package, so I think they are trying to do right by these guys.

Good luck to all.

Learguy

So where did you get those numbers from?? I got the email today and no numbers were mention, likely would be told at the end of the month how many. And no mention of severance package, but I hope there is for those unlucky ones.

Nevermind just received another email with 25 as a possible #, and talk of a severance package

Sorry to hear this guys. It's not a pretty picture out there. Good luck to all affected.


EXTW

Geez, yet more bad news regarding this whole industry. I'm sorry to those who might end up getting let go, these are hard times and I just hope this dark storm subsides soon.
I wonder if NJA will be next in line to mention furloughs; seems they are the last one holding out.

Aww crap not again! Not another fractional! I really don’t know what to say. Dang! Sorry y’all. Good luck on the furlough and best of luck if you decide to sit it out and wait or if you decide to move onto a different occupation.

Dang it all! :mad:

I don't see Netjets doing any furloughing this year. Right now, they are in position to prove their financial viability to prospective clients by not laying anyone off.

We have lost a minimum of 16 full aircraft worth of flying due to owners using the hardship clause in their contract. Each of those owners was refunded the amount due to them in their contract, it seems they were using this as some sort of margin security or something.

I've heard a RUMOR that one of the frac companies didn't have the capital to do refunds requested by their owners.

I think the pres of Netjets is willing to spend the extra $$ to keep all employees employed during this crises as part of an image/marketing campain. We are in begining a quarter billion dollar expansion of our headquarters in CMH and there are no signs of it halting. All of our marketing budgets for 2009 are still intact, not to mention Buffet having plenty of capital to see this through (and he LOVES us).

Now, if things don't improve by around Sep/Oct I believe the issues of furloughs will be discussed, but there are a lot of things that can be done prior to such harsh measures being taken.

I hope once we do start hiring pilots again we give preference to furloughed/fired frac pilots.

That's what I was thinking, Santulli wants to show NJA's financial health, but he can only do this for so long...I was right on one thing, SWA, UPS, FDX and NJA will be the last to furlough (if they do)

As for Flexjet, very sorry to hear this, some economists predict the economy will start to recover at the end of 2009. I hope they're correct so the ones affected get their jobs back. Hang in there

The whole "won't furlough to show financial health" argument doesn't hold water.

What sort of freshman business major would think it's a good idea to throw millions of dollars down the tubes just to put up a front of financial health. If that is really what they are doing then they should be fired for incompetence as this is not the economic environment to be stupid with cash.

I've heard the NJ furlough number is north of 500 and it'll be the first quarter of this year. If that number goes higher because money was wasted then what will pilots think? Still a good idea to not furlough in a fools effort to show how great things are at company X?

I would really like to know where you heard that.