Here's the deal. Management sits down and honestly discloses all the companies financial records. I mean all of them. Then there is an across the board sacrifice. It should not be where the office workers give 10%, lower management gives 5 to 10%, upper management gives 10% (but none of their bonuses are touched, none of their pensions are touched... and in fact when bankruptcy is looming, no one should be receiving a bonuse... and then labor is required to give upwards of 25% and that does not include acquired benefits. Can you see why people get mad? But, if all pool together to save a company, you will see morale increase and people try their best. I mean its People Skills 101. Its not brain surgery.
Now if you are on a major ego trip and want to bust unions...don't care that it could be the wild card that sends your company right into bankruptcy, destroys company morale so that it take two decades to rebuild (like Continental), then go ahead with the NWA plan.
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