WestJet Group Hiring Freeze
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Re: WestJet Group Hiring Freeze
Any die hards like to chime in? Reality Chex? Cloak? Brooks?
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Re: WestJet Group Hiring Freeze
Pretty sure they choked drinking too much koolaid. Onex Corp will slowly show its true colours.
Re: WestJet Group Hiring Freeze
The 2019 issuer bid was fairly lightly actioned (1.1 million shares repurchased vs 8.2 million share repurchase limit).
This is just a renewal of an expiring arrangement and will likely also be lightly actioned unless the ONEX share price drops dramatically over the course of the next 12 months.
This is just a renewal of an expiring arrangement and will likely also be lightly actioned unless the ONEX share price drops dramatically over the course of the next 12 months.
Re: WestJet Group Hiring Freeze
Just $100,000,000 or so on the low end then...rudder wrote: ↑Thu Apr 16, 2020 12:41 pm The 2019 issuer bid was fairly lightly actioned (1.1 million shares repurchased vs 8.2 million share repurchase limit).
This is just a renewal of an expiring arrangement and will likely also be lightly actioned unless the ONEX share price drops dramatically over the course of the next 12 months.
Re: WestJet Group Hiring Freeze
Plus 1 787....or maybe more depending on cargo charters.Daniel Cooper wrote: ↑Thu Apr 16, 2020 7:07 amI think it's 17-737s and 22-Q400s. 39 aircraft total.thrust set wrote: ↑Thu Apr 16, 2020 1:46 am I’ve heard plans of returning with only 39-737’s and 22-Q400’s. What are the plans for the 787’s and the 767’s? Initially parking or any being returned ?
Good luck to all, hope for a quick return.
TS
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Re: WestJet Group Hiring Freeze
Onex doesn’t give a s#it about any WestJet employee. There hasn’t even been a single email from them to any of the employees outside of management since the deal went through. In fact it’s known that WJ ALPA approached Onex to schedule a face to face welcome after the acquisition closed. The response a stern thanks but no thanks.Jean-Pierre wrote: ↑Thu Apr 16, 2020 12:23 pm Same day as massive layoff. Cold blooded. Either they already got the government bailout and it was no string attached or they do not care to try and get one.
Re: WestJet Group Hiring Freeze
What Westjetters will have to learn is that ONEX is not WJ. ONEX is the conglomerate that owns WJ. ONEX corporate actions are not centred on WJ. However, the cash that WJ burns is now ONEX cash. Hence the aggressive employee layoffs to cut payroll cost while revenues are virtually non-existent.
Having the backing of a massive and well capitalized holding company with significant access to cash and capital will be a good thing when times improve. But it also creates pressure to stop the hemorrhage during bad times.
Having the backing of a massive and well capitalized holding company with significant access to cash and capital will be a good thing when times improve. But it also creates pressure to stop the hemorrhage during bad times.
Re: WestJet Group Hiring Freeze
Exactly. Westjet is 5% of Onex holdings, operations within the company have not changed at all.rudder wrote: ↑Thu Apr 16, 2020 1:06 pm What Westjetters will have to learn is that ONEX is not WJ. ONEX is the conglomerate that owns WJ. ONEX corporate actions are not centred on WJ. However, the cash that WJ burns is now ONEX cash. Hence the aggressive employee layoffs to cut payroll cost while revenues are virtually non-existent.
Having the backing of a massive and well capitalized holding company with significant access to cash and capital will be a good thing when times improve. But it also creates pressure to stop the hemorrhage during bad times.
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Re: WestJet Group Hiring Freeze
Watching the Calgary CTV news @ 5, they reported that 1700 West Jet pilots are to be laid off.
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Re: WestJet Group Hiring Freeze
Here is an interesting read from way, way back on ONEX vs Air Canada. Note reference CAI and ONEX seemed to be out foxed by AC. I am not smart enough to figure any angles with ONEX/WJ and AC but there are always angles, always will be....
https://www.lexpert.ca/article/the-onex ... ecode=CCCA
https://www.lexpert.ca/article/the-onex ... ecode=CCCA
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Re: WestJet Group Hiring Freeze
Kooooooolaaaid yummyrudder wrote: ↑Thu Apr 16, 2020 1:06 pm What Westjetters will have to learn is that ONEX is not WJ. ONEX is the conglomerate that owns WJ. ONEX corporate actions are not centred on WJ. However, the cash that WJ burns is now ONEX cash. Hence the aggressive employee layoffs to cut payroll cost while revenues are virtually non-existent.
Having the backing of a massive and well capitalized holding company with significant access to cash and capital will be a good thing when times improve. But it also creates pressure to stop the hemorrhage during bad times.
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Re: WestJet Group Hiring Freeze
Quick questions - no US flying? Right seat or left seat?
Re: WestJet Group Hiring Freeze
Only domestic flying. You can overfly the states and also divert to the states but then you wouldn’t be able to get out of there.
Both seats.
Both seats.
Re: WestJet Group Hiring Freeze
How many pilots for one 787 still on property ?Blue42 wrote: ↑Thu Apr 16, 2020 12:54 pmPlus 1 787....or maybe more depending on cargo charters.Daniel Cooper wrote: ↑Thu Apr 16, 2020 7:07 amI think it's 17-737s and 22-Q400s. 39 aircraft total.thrust set wrote: ↑Thu Apr 16, 2020 1:46 am I’ve heard plans of returning with only 39-737’s and 22-Q400’s. What are the plans for the 787’s and the 767’s? Initially parking or any being returned ?
Good luck to all, hope for a quick return.
TS
Maybe time for some retirement ...
Re: WestJet Group Hiring Freeze
In line with the above statement, “time for some retirements”, are the any of the original “millionaires” still flying the line?
If so, are they the over 65s in question?
If so, are they the over 65s in question?
"Stand-by, I'm inverted"
Re: WestJet Group Hiring Freeze
There's 8.
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Re: WestJet Group Hiring Freeze
I stand corrected. I was told there were 30-40 just recently, but your numbers are probably more accurate.
Re: WestJet Group Hiring Freeze
What method(s) are being explored to mitigate lay-offs?
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Re: WestJet Group Hiring Freeze
Does One list mean mainline captains can bid over to Swoop captain seats?