Thread regarding Boeing Co. layoffs

What's IAM? International Apple Munchers?

I want my IAM bonus even if it takes the last dime Boeing has!

u all are lost. this is a upper management issue, doesn't have anything to do with the workers, but unfortunately we will all suffer from it. sad that the decisions of a few impact so many.

I AM certain the true crooks are the IAM executives

IAM union complains about execs getting bonuses when financial results s—

IAM union has no issue taking bonus money when financial results s—

Hypocrisy much?

The execs get an additional type of compensation based on the stock. It isn’t canceled.

And let me correct this for all the IAM union members already laughing at everyone not getting bonuses... if you get laid off this month NO BONUSes either! lol

I think you read that article wrong...

https://www.seattletimes.com/business/boeing-aerospace/no-bonuses-for-white-collar-boeing-employees-this-year/?amp=1#aoh=15722894588769&_ct=1572289480872&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s

Please note the first paragraph...
"Boeing will not pay annual bonuses to its management, executives or unionized engineers and white-collar workers next February, payouts that for many years have pumped millions of extra dollars into the accounts of employees in the Puget Sound region and beyond."

Management, Executives, Union Engineers, and White Collar workers will NOT get a bonus this year. Once again that included EXECUTIVES. So the only people getting a bonus this year are IAM Union

Let me correct that for you,

Who gets bonuses this year?

Execs = that's a big nope
IAM Union = yes
Non-union = that's a big nope.

I didn’t say acquisitions, I said partnerships...like the one Boeing recently formed with Porsche....
https://www.reuters.com/article/us-boeing-porsche-electric/boeing-partners-with-porsche-on-electric-flying-car-idUSKBN1WP2J2

In honesty, ALL contractual obligations should be kept, including whatever the executives had in place previously, as well.
It’s black and white, whether it’s “irresponsible” or not. It would probably require renegotiations or something, to forego the payments.
Just as I’m sure Boeing been in negotiations with their suppliers to defer or reduce or whatever their contractual payments.
That $5k....it’s part of a total $15k in exchange for further pension payments. So in reality, I guess one could look at it as the IAM is doing their part to reduce financial liability on the company.
I say that with partial sarcasm, because on one hand it is true, reduces some financial liability, but on the other hand, how the vote was conducted, the pension was stolen so some kids could go buy some parts for their car, an Xbox and new TV, and those on the way out padded their exit plan, leaving those in the middle to rely solely on the market.

You know what, you changed my mind. All the other expenditures they have cut, but yep, the stock dividend is the same.

(I hope the sarcasm comes through)

Enjoy your $5k I hope it brings you the same joy the execs get from their bonus.

No bonuses - ok. What about the stock dividend? That hasn’t been reduced or eliminated.

It would be good time for the union to strike to get the pension back.

I never said the unions were responsible for the tragedies.

What I said was that it is irresponsible for ANYONE to take money as a bonus under circumstances where a company is losing money the way Boeing is. Union, Salary, or Executives.

But facts are facts.

The company is losing money this year
The company stopped stock buybacks the month after the second crash
The company has not completed any new acquisitions that were not already in negotiations BEFORE the first crash
The company (to our knowledge) has not started any new acquisition negotiations.

And who is getting money in excess of their salary this year...

Execs = yes
Union = yes
Non-union = that's a big nope.

While bleeding money, they still seem to have money to invest in partnerships, buy back stocks etc. seems reasonable they keep their contractual obligations as well.

Unions didn't cause this mess.. why should they be penalized? This is a contract negotiated bonus.. company got our prnsion plan.. so they had more money for stock buybacks and shareholder dividends oh and executives huge bonuses in prior years.. union has lived up to its contract obligations and so should Boeing.

Unions used to fight for what was right. When companies are making billions of dollars it is only right that those who made that happen get their fair share.

When a company is losing money it is not right for ANYONE to take a bonus, executives or union members.

So I agree that exec's should not get any money at this time. But it is just as wrong for the union to take money in the hard times.

Seems the union is now just as greedy as execs. When things are bad, they both get their money.

And when executives were hired on, their compensation, including bonuses (regardless of profit/loss) were determined (just like the union contract.)

You made my point perfectly. If the union is going to b–ch about exec's getting bonuses, they need to look in the mirror. Yes exec's bonuses are bigger, they make more. Yes $5k times the number of union workers is a drop in the bucket, but right now, when you are parched in the desert, EVERY DROP COUNTS.

Just saying to all the Union Boeing haters, if you hate it that much, either leave or put your money where your mouth is.

@11HNi8QQ-1wan
Has zero to do with being rewarded when things go bad. (IAM Union)
Their bonus is contractual and was determined pretty far ahead of time. 2011 and 2014.
The $5k is remainder of their 2014 extension ratification signing bonus. It’s honestly a spit in the bucket for what their pension they no longer have was worth.
Their AMPP, which is also contractual, from 2011...is probably the only incentive plan that’s metrics are not based off of: revenue, core earnings per share, or free cash flow...aka profit.
Also per contract, if the company decides to cancel their incentive plan, each member is to be awarded a lump sum of 2% their salary.

There is nothing rewarding for when things go bad about it.
Just unfortunate timing for the company of when contractual obligations come to fruition.

It affects ~ 20,000+ SPEEA union members

Apparently you gotta fund the union too. Executivesand Union members are exempt from paying the price when things go bad, they both get bonuses.

Gotta fund the money to line the pockets of the outgoing executives from somewhere

The company does not see a path to achieving an incentive payout
For 2019
Heidi did acknowledge (off the record) that management incompetence
and its creation of a toxic work environment have created incentives
for employees to up-date their resumes
IAM members still looking

Not 100% true.
The IAM have a contractual agreement with Boeing over their two bonuses in Jan/Feb of 2020.
The Jan is remainder of contract ratification signing bonus of $5k. Payable to any IAM employee on active payroll. (That’s why so many think notices may be given next Fri for a last day on active payroll of 1/1/20, to get out of paying those employees $5k)
And in Feb there is another contract bonus that has nothing to do with the company linked bonus program. It is a separate plan, not based off profitability, based off productivity metrics, with a clause to not deduct for things that are not within the IAM employees control. 737 grounded is not in their control. It will probably be a low percentage bonus, because there are other things happening in the company that IAM employees could have their metrics dinged.

TL;dr: IAM is still getting bonus.

Still get my bonus then !!!!