80M in fixed costs a month for a lights on zero bookings scenario. Im assuming wages are included as part of this 80M, among other fixed costs?
Cost savings from furlough of 1/3 of staff =125M savings I.e. 62.5M a month.. Conservatively full strength would be 187.5M a month, likely higher..
Am I missing something here or do the numbers seem to imply something? Unless wages aren't treated as fixed costs - any accounting experts here?
200 Million cost savings included already taken actions. 125 million additional can be saved by future possible actions.
The more furloughed that find other employment the less severance needs to be paid. Obviously that goes beyond the "two month furlough". Ugly thinking but based on recent compositions of the "management team" it's not unreasonable thinking. Personally, I can't even guess what SMs end game is.
@usd+14SKGZ8p he obviously does not intend to do this at all. If he does, he would have just lay off ppl in the first place, instead of the so call "furlough"
This does not answer the question but I had really hoped that Menke would have officially pivoted from pretend furlough to lay-off before, during, or after the call so we could get severance and vacation pay.