Buyout at Netjets?
 

Will there be an employee buyout at netjets?

Ok, I'll bite.

Doubtful!

Nothing has been mentioned by the company or union about this- only people speculating on message boards. I would like to see it since I think it could be a help to the company and some employees, but I also doubt it will happen.

I haven't heard anything regarding that either, a rumor here and there, but nothing serious.

At this juncture, my one and only concern is that NetJets weathers the storm. I want to see us make a couple bucks, hang on to our owners, and avoid any furloughs..... I haven't thought about anything else, but how the company is doing financially. I don't even know how the NJA/NJI merger is going, or where it is.

I like how you guys say "there has been nothing said from the company regarding"......they aren't going to tell you!

Well, they would have to tell us if there was an "employee buyout"--how else are they going to get any takers?!?!?!?!

i'm talking about a sudden ahh,,,,,,nevermind.

It appeared at CS, XO and Flex they just woke up one day and furloughed (or laid off) people. I think with the decent union-mgmt relationship at NJ it would not happen this way. One thing I think deterring furloughs is training costs. Most of the low end seniority pilots are on the newer growing fleets like the 680 and Encore+ so a furlough would bring about huge training costs that would offset much of the furlough savings. But only time will tell....

Training costs for Net Jet Pilots is virtually nil. The reason is that Warren Buffet owns Flight Safety. I'm sure Net Jet pilots are not crowding out any full fare paying customers. Such training is costs around $25,000 per pilot per year.

I am told it was nothing like how it appeared to you. CS did it the right way. People knew in advance.

CS offered early retirements, leaves of absence and then furloughed. They saved jobs doing it this way as some opted for the early retirements and leaves of absence. Not as many were furloughed as initialluy stated because of it.

All it took was a great employee-management relationship. Hopefully those furloughed will be back soon.