DL announcing raises, changes to Profit Sharing

[eolesen]

Details coming out later today but the short story...

** 14.something percent raises for nonunion and management, effective in October.

** Change to profit sharing formula for 2016 (won't affect awards for FY2015) which supposedly requires exceeding prior year pretax profit in order for a payout.

If so, after years of hearing about profit sharing being worth more than base pay, it seems that DL doesn't want to rely on that carrot as much.

Hopefully one of the active ee's can post the details when they come out.

 

[WeAAsles]

Waiting to see it hit the official news wires before I call it a true go.

 

[Kev3188]

Internal Memo now out to all employees... should hit the AP, etc. soon...

 

[cloudskimmer]

It is confirmed.

Same thing that was offered to DL pilots and voted down.

8% pay raise above the part of profit sharing that was converted to pay.

Also increase in 401K contribution.

 

[Lucky777]

Actually it's a 14.5% base pay increase across the board, worldwide for ACS effective December 1 of this year.
 
Also, the new profit-sharing formula shares 10% of profits as before. However, the 20% trigger only happens once we reach and exceed the prior year's profitability, with no limit.
 
Also, Delta will match 401k contributions up to 6% versus a max of 5% before.
 
All in all I think this is a fantastic announcement for the workers. The 10% profit-sharing is still there as before, the only difference now is the bar to reach a 20% payout has been changed. A guaranteed 14.5% boost in pay is beyond anything I would have imagined to be quite honest.
 
We're being told to expect a 20% payout of your 2015 pay for this year's profit-sharing which is of course being paid out in February of 2016.

 

[700UW]

 

[cloudskimmer]

Along with the pay raise earlier this year, this is very big.

Some pilots are not looking very happy today.

Profit sharing payouts will still be very nice.

 

[BABABOOY]

Great news!!!  congratulations to ALL!  

 

[Kev3188]

Right back atcha. We've earned it.

 

[townpete]

Wait, all this one done...without a union? 
 

 

[BABABOOY]

Wait, all this one done...without a union? 
 

Best meme !!!!!

 

[Kev3188]

Wait, all this one done...without a union? 
 

Was it?

 

[eolesen]

Classic. The changes to profit sharing aren't as bad as I'd been expecting.

 

[700UW]

Until the Pilots negotiate a change.

 

[townpete]

Was it?

 
Cheer up buttercup, it gets better.