Oct 09
6
British Airways to cut 1,700 jobs
Grim news on the job front as BA announce they're going to cut 1,700 jobs and a two year pay freeze for cabin crew.
Pay freezes are not unusual and many companies have frozen pay or at least allocated only allocated pay rises to those who've been waiting the longest. So if you're recently has a rise i.e. in the last year, you can expect to wait another three years before you'll even be considered for another rise.
A pay freeze is effectively a pay cut as your net pay won't keep pace with inflation and as all your household bills and other regular expenses increase then your money has to stretch to cover it all, but take some comfort in the fact that you still have a job.
"Revenues are down, so we must reduce costs and restore profitability," BA said. It's the same old story. It makes sense if you're at the top of the pyramid but at the bottom it means the loss of your job and your livelihood.
BA made a loss of £401m in the financial year ending March 2009 so this may not be the last you hear on this subject during the next twelve months.
