Layoffs

[mixturerich]

Or those irresponsible millennials that bought bread and meat from the store instead of hand milling the flour from the wheat you grew last summer or the buck you speared, skinned, and butchered with a shard of obsidian.

No more avocado toast, that’s for sure.

[sanjet]

Ive gone from Heineken to Blue Ribbon.

[Soar]

He lost $700k but yes he started with $2.6M.

My point is his cheap ass couldn’t enjoy it and now it is gone. He doesn’t seem too worried. He still has lots.

My other point is the AC pilot that this retirement package targets has lots of money - already. But time is a resource that is limited no matter who you are. Even if the math tilts towards staying, what is the cost in terms of health & time?

I'm sorry but where do you get off calling someone cheap ass because they prefer to keep their money in their own pocket instead of putting into the hands of others? What makes you assume your dad doesn't enjoy his hard-earned money, or his life while he was accumulating it? That's presumptuous bordering on arrogance.

When I was working in the ME I got this all the time because I didn't drive a "pilot car", ie high-end Range Rover/BMW/Merc. Was perfectly happy with my used QX4, and I hardly lived like a monk - but I put the vast majority of my salary in my bank account, not into "glamorous meals" and "nice cars on vacation". I'm pretty glad about that now - no worries financially, WHATEVER the stock or job market does.

It sounds like you have more regrets than your dad does. With the better part of $2 million left his wealth is hardly "gone".

You've as much said that one is "crazy" to want to keep working if they don't absolutely have to, but again - who are you to say how someone chooses to spend their time OR money? Some people actually enjoy their flying job. Still. Risks and all. Not everyone chooses to live in fear that the dreaded coronavirus is an End Of Days event. It's true that people with a lot of wealth can still be very poor in spirit, but not everyone with money is miserable just because they don't share your spending habits.

Perhaps if a few more people had sacrificed like your dad, we wouldn't have entitled idiots planning to not pay their rent next month because they are broke and out of the game with a single month's loss of salary, and millions of people clamouring for the government to "save them". But hey, when you're busy livin' your best life on Insta, can't worry about the future, right?

Not like anyone's been warning people forever about not saving and taking on debt...

Couldn't agree more. Because your father had the foresight to save rather then buy that new car as you put it, he had 2.6mil, instead of less than 1mil depending on how "well" he lived his life, as flashheart put it.

You're missing the most important point. His 2.6mil didn't go anywhere, he didn't lose 700k (in theory). The market is speculatively pricing it at that. His shares, his units didn't go anywhere, he still has them, and when this all rebounds, he'll have much, much more in due time. Are you familiar with "narrative economics"?

By the way, I just back tested what you said. 2.6mil from Dec 2019 - Feb 2020 (let's say when this all went down) would of returned a total balance of $2 513 723.00. Not sure how your father lost 700k in a few months. This is assuming a portfolio of 80% stocks, offset by bonds. A 100% Canadian biased portfolio would of done a bit worse, shrinking to $2 447 833, from the initial $2 600 000 in Dec 2019. Did he have is entire nest egg invested in only one equity? I highly doubt that. You should be patting your dad on the back and congratulating him on saving what he did. Hopefully decades and decades from now you could potentially be inheriting a truly massive lump sum indeed.

The reason I felt compelled to post is because in these times of hysteria, you have to be very, very careful of what you say (read: fake news). You're only adding fuel to the fire and not helping the situation - it's irresponsible. Your opinion is just that, your opinion, which you're completely entitled to it - subjective as it is. Let's stick to facts and get through this...

[Hangry]

Isn’t this thread about layoffs at AC?

[RippleRock]

Apparently it's about "anything related, or remotely related", including Jim Bob's uncles fathers sisters brother that lost a few bucks in the market and now has to eat KD & ketchup. We're working on food ideas for him.

[Fanblade]

Apparently it's about "anything related, or remotely related", including Jim Bob's uncles fathers sisters brother that lost a few bucks in the market and now has to eat KD & ketchup. We're working on food ideas for him.

Wait until the 7th. That will bring this thread back into focus. In order for AC to lay-off it means all open position have to be removed. We also have the 737 fully staffed at 50 with limited reductions on the 320 because of the grounding. Plus up to 600 furloughs.

Just start adding up what the next bid on the 7th will look like. Up to 1/3 of the positions from the last bid removed?

Fortunately for us AC was so far behind on training. Fortunately for us there are 1000 retirements in the next 7 years.

But I don’t think the gravity is really sinking in yet. Wait until the 7th. Then it will.

[rudder]

Even with significant govt financial assistance available, US carriers are starting to diagram dramatically reduced route maps/schedules and smaller employee footprints effective 01 October when the no layoff provision expires.

AC is likely in the same boat.

[L39Guy]

I think it's a slum-dunk that TC will defer the new FTD rules for at least a year if not two; the industry has survived without them for this long and increased costs is the last thing it needs to be heaved upon it. That will eliminate 300-500 positions that were in the last equipment assignment.

Reduced domestic, transborder and international flying? Who knows as this is completely uncharted territory. How fast each of these markets will rebound is anyone's guess - how must do those regions get a handle on COVID-19, how fast does consumer confidence return?

[altiplano]

I think it's a slum-dunk that TC will defer the new FTD rules for at least a year if not two; the industry has survived without them for this long and increased costs is the last thing it needs to be heaved upon it. That will eliminate 300-500 positions that were in the last equipment assignment.

Reduced domestic, transborder and international flying? Who knows as this is completely uncharted territory. How fast each of these markets will rebound is anyone's guess - how must do those regions get a handle on COVID-19, how fast does consumer confidence return?

We were uncharted territory on the length and effect of the 737max grounding and they weren't going to provide any relief on the flight and duty time file. I'm not so sure they defer it for this either.

[RRJetPilot]

I think it's a slum-dunk that TC will defer the new FTD rules for at least a year if not two; the industry has survived without them for this long and increased costs is the last thing it needs to be heaved upon it. That will eliminate 300-500 positions that were in the last equipment assignment.

Reduced domestic, transborder and international flying? Who knows as this is completely uncharted territory. How fast each of these markets will rebound is anyone's guess - how must do those regions get a handle on COVID-19, how fast does consumer confidence return?

Why the hell would the government delay the rule when It would mean fewer jobs at the airlines. The government is desperate to keep as many off EI as possible. Take a look at the new 75% wage subsidy. I would be very surprised to see anything on that...

[dialdriver]

I'm guessing that would require an act of parliament.

[nottellin]

I think it's a slum-dunk that TC will defer the new FTD rules for at least a year if not two; the industry has survived without them for this long and increased costs is the last thing it needs to be heaved upon it. That will eliminate 300-500 positions that were in the last equipment assignment.

Reduced domestic, transborder and international flying? Who knows as this is completely uncharted territory. How fast each of these markets will rebound is anyone's guess - how must do those regions get a handle on COVID-19, how fast does consumer confidence return?

Why the hell would the government delay the rule when It would mean fewer jobs at the airlines. The government is desperate to keep as many off EI as possible. Take a look at the new 75% wage subsidy. I would be very surprised to see anything on that...

Agree 100%, there is an abundance of pilots right now, how would look on government if there was an incident die to fatigue and they delayed new regs for shareholder benefits..

[hamstandard]

Saw an AC agent that I know at the store. He said that there were ten flights today(including Jazz) with a total of 91 passengers. Not good.

[Blue42]

Saw an AC agent that I know at the store. He said that there were ten flights today(including Jazz) with a total of 91 passengers. Not good.

There’s almost 30 aircraft in the air at this moment...

[altiplano]

Saw an AC agent that I know at the store. He said that there were ten flights today(including Jazz) with a total of 91 passengers. Not good.

There is no doubt that it's way WAY down, but that is completely off. There were about 100 Mainline AC departures from YYZ alone today,

91 passengers? Maybe that's hyoerbole?

[FL410]

I read it as 91 passengers across a selection of 10 flights, perhaps ones the agent worked...

[Inverted2]

I’ve operated a dozen or so flights recently (Jazz) that had between 0 and 10 passengers.

[Fanblade]

Air Canada to layoff 15,000

https://www.theglobeandmail.com/busines ... ovid-19-2/

[boeingboy]

It's about time they woke up.

…..now - how long till WestJet does the same?

[CaptainHaddock]

WJ just layed off 7000. That’s half the airline. How many employees does AC have?