Profit sharing
- Thread starter bunt3dunk
- Start date
MetalMover
Veteran
- Sep 16, 2013
- 3,543
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yes,, But don't get confused, We have NO profit sharing and the 4% was a raise given to a select group of people and was NOT shared by all having contributed to a historically profitable 2014.bunt3dunk said:
ATLANTA, Feb. 13, 2015 /PRNewswire/ -- Delta Air Lines (DAL) employees today will receive profit sharing as part of the company's $1.1 billion total payout for 2014 – the largest payment in the company's history – in recognition for their industry-leading performance.
"At Delta, we believe that people, values and culture drive our success," said Richard Anderson, Delta's chief executive officer. "We call it the 'Delta Difference.' It is essential for our employees to have an ownership stake in our business and share in the record-breaking achievements they helped create. Thank you to Delta's 80,000 people worldwide, who made 2014 an exceptional year by taking great care of our customers."
"At Delta, we believe that people, values and culture drive our success," said Richard Anderson, Delta's chief executive officer. "We call it the 'Delta Difference.' It is essential for our employees to have an ownership stake in our business and share in the record-breaking achievements they helped create. Thank you to Delta's 80,000 people worldwide, who made 2014 an exceptional year by taking great care of our customers."
WorldTraveler
Corn Field
- Dec 5, 2003
- 21,709
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- Banned
- #7
Doug says that you don't influence the profits of the company.
He will take hefty bonuses even though he had nothing to do with the drop in oil prices.
He will take hefty bonuses even though he had nothing to do with the drop in oil prices.
Kev3188
Veteran
Yep.
16.58% to be specific...
16.58% to be specific...
WorldTraveler
Corn Field
- Dec 5, 2003
- 21,709
- 10,662
- Banned
- #11
that's a good union line if the math really worked out like that.
WorldTraveler
Corn Field
- Dec 5, 2003
- 21,709
- 10,662
- Banned
- #13
tell that to WN employees
and 16.5% pay for DL employees this year on top of about the same over the past 4 and PS isn't exactly chump change.
PS doesn't work with companies that aren't well run.
for those that are, it is a huge additional part of an employee's compensation package and it absolutely amounts to more than what those employees get in direct salaries.
All of the people on here who complain about mgmt. salaries which are heavily based on performance are the first to say that profit sharing isn't worth it.
if employees want to narrow the gap between mgmt. and traditional employees, they have to be willing to act like they have something invested in the company and accept mgmt. kind of compensation.
it is also notable that profit sharing for DL and WN employees stand as a direct and complete contrast to the ESOP schemes that swept thru American business and themselves often did not produce results for frontline employees... UAL is of course one of the most notable ESOP failures.
and 16.5% pay for DL employees this year on top of about the same over the past 4 and PS isn't exactly chump change.
PS doesn't work with companies that aren't well run.
for those that are, it is a huge additional part of an employee's compensation package and it absolutely amounts to more than what those employees get in direct salaries.
All of the people on here who complain about mgmt. salaries which are heavily based on performance are the first to say that profit sharing isn't worth it.
if employees want to narrow the gap between mgmt. and traditional employees, they have to be willing to act like they have something invested in the company and accept mgmt. kind of compensation.
it is also notable that profit sharing for DL and WN employees stand as a direct and complete contrast to the ESOP schemes that swept thru American business and themselves often did not produce results for frontline employees... UAL is of course one of the most notable ESOP failures.
Thanks. My cynical side says that Anderson & Co are probably drafting the modified formula for 2015 profits so that the total doesn't reach $1.1 billion again. The pilots would have to be paid for that confiscation, but everyone else would just get less and like it.Kev3188 said:
FWAAA said:
Yep. That's exactly what happened in 2014 where I work. We had ample profit to pay profit sharing based on our earnings report. Wall St. was pleased. But, when it came time to computing profit sharing, there was suddenly considerably less cash available (stock buybacks, capital spending, acquisitions, etc.), leaving most of the company to get $0. I used to be a fan of profit sharing. No more. It's too easy for management to manipulate it to minimize what's paid.
