Qantas slashing jobs and possibly selling FF program?

[Pinkmoose]

From The Age today.

Qantas to cut 1000 jobs | theage.com.au

Will the sale of the frequent flyer program dilute our points even further?

 

[MarcB]

Qantas to cut 1,000 Jobs.

Not the greatest press release...shares have dived 16c.

http://www.asx.com.au/asxpdf/20131205/pdf/42lf195c6j7ss1.pdf

 

[kevrosmith]

Re: Qantas to cut 1,000 Jobs.

Time to stop focusing on earning QFF points and switch my major points-earning credit card to Velocity, me thinks. With most of my travel in and out of leisure destinations (CNS, OOL), I can sense that this will only mean further deterioration of my ability to book Business-quality (in regard to flight times) flights.

Qantas warns of $250m-300m loss, 1000 jobs to be cut, pay freeze for execs - Flights | hotels | frequent flyer | business class - Australian Business Traveller

 

[Comoman]

Re: Qantas to cut 1,000 Jobs.

Yep - I'm going to burn my points asap. You never know what's going to happen with QFF.

 

[peterk]

Re: Qantas to cut 1,000 Jobs.

Qantas would not be in its current state of financial stress if it were better managed
and offered the public a decent consistent service.
In my view, Qantas is a very average airline with a superiority complex.

 

[badseed]

Re: Qantas to cut 1,000 Jobs.

Apart from accepting some 'undefined' salary reductions and executive pay freezes, I can't see much in the statement about Joyce & his management team taking responsibility for QF's position.

Doesn't look like the EK partnership is turning into the Qantas fountain of youth some here suggested it would be.

Time to give up on that ridiculous 65% domestic market share concept and focus on yield.

 

[Chief Wiggum]

Re: Qantas to cut 1,000 Jobs.

The airline will step up cost savings over the next three years, stripping out $2 billion

Ouch !!! That's a LOT of "enhancements" coming down the pipeline. If they're smart they will limit the Customer Facing side of that cutting. ie: cutting back lounge services etc...

Qantas to cut 1000 jobs

 

[Deleted member]

Re: Qantas to cut 1,000 Jobs.

I think any knee jerk reaction is premature.Joyce may be silly But he's not stupid.
I am NOT burning anything and will wait and seewhat happens.
I suspect that press releases like this are likea hand grenade in a room, throw it bin and see who’s standing after. there isthe prickly issue of foreign ownership to consider, and a range of off shoreJobs exports to consider as well.
There will be played out on this subject beforeany decisions are taken I suspect

 

[Flying Fox]

Re: Qantas to cut 1,000 Jobs.

What the heck is happening at QF???

I thought that things were back on the improve from all the news coming from the company and that the EK partnership was producing great results?

I know that I have spent my share with QF this year!

Good to hear that AJ and the board are leading from the front with wage freezes & pay cuts.

 

[Deleted member]

Re: Qantas to cut 1,000 Jobs.

I was thinking about the job losses and wondered why the on line ASA facilities were removed in favour of dealing with CSR's , has this (on line) facet of the Qantas business not rresonated with the bean counters ? I mean surely CSR's should be proiblem solvers NOT Travel agents for the astute traveller ?

 

[Shinkz]

Re: Qantas to cut 1,000 Jobs.

What I would do if I were CEO

- Sell off at least half of QF's A380's
- Cancel at least half of all new aircraft orders
- Scrap majority of QFi
- Keep QFF
- Lobby for removal of the 51% rule and not for govt funding, allow chinese government to buy stake.
- Get rid of the ridiculous employee benifits
- Axe Chairmans Lounge

Just a start (food for thought)

 

[will2rob]

Re: Qantas to cut 1,000 Jobs.

I'm with GPH on this. I wouldn't be surprised if this is part of a strategy to put pressure on the Govt to guarantee their credit status or support Qantas in one of the other ways mooted.

i won't be panicking just yet. If Virgin is smart, now would be about the right time to offer another status match to capitalise on the uncertainty that announcement will create.

 

[bammac]

Re: Qantas to cut 1,000 Jobs.

What I would do if I were CEO
- Lobby for removal of the 51% rule and not for govt funding, allow chinese government to buy stake.

I think these job cuts and the threat of more job cuts is a play towards getting the Government to cave on the removal of the foreign ownership rule. Once it is relaxed (I believe it will be), Emirates will likely fill that stake. It will probably stabilise Qantas and give the government the ability to voice the fact that their, prompt decision making approach, saved the Australian icon...

A new round of job cuts will occur afterwards to remove the higher paid staff/pilots, under the auspice that Emirates can already provide the required roles already.

 

[Oxy]

Re: Qantas to cut 1,000 Jobs.

If I were CEO the first thing I would do is stop selling tickets from Brazil.

 

[redslert]

Re: Qantas to cut 1,000 Jobs.

I feel some enhancements coming soon.

Funny on SMH title article is QF and then Virgin Ad pops up everywhere.

 

[eastwest101]

Re: Qantas to cut 1,000 Jobs.

I was thinking about the job losses and wondered why the on line ASA facilities were removed in favour of dealing with CSR's , has this (on line) facet of the Qantas business not rresonated with the bean counters ? I mean surely CSR's should be proiblem solvers NOT Travel agents for the astute traveller ?

Yep - lots of conflicting or contradictory messages coming out of QF management at the moment, seems a bit indicative of the left hand not knowing what the right hand is doing. Or what we call "reactive management" or "making it up as you go".

Your example of shifting U class ASA bookings off the QF web site and onto the Call Centre staff while trying to cut staff numbers is a classic example. As well as past stuff like shutting the airline down due to industrial disputes with your staff and then appealing to your staff to help in a nationalistic PR campaign against the QF Sales act and against the competition. Or making bellicose announcements about your 65% "line in the sand" market share and then complaining about falling yields.... Or say giving away routes to your LCC subsidiary and then complaining that your customers don't show loyalty. I could go on.

 

[SeatBackForward]

Re: Qantas to cut 1,000 Jobs.

SMH is now reporting potential sale of Jetstar..I think that'd be a good thing..maybe..hmmm.

 

[gwilli1]

Re: Qantas to cut 1,000 Jobs.

If AJ was leading from the front , he would resign. Its been a rapid downhill decline since he came on board.

What the heck is happening at QF???

I thought that things were back on the improve from all the news coming from the company and that the EK partnership was producing great results?

I know that I have spent my share with QF this year!

Good to hear that AJ and the board are leading from the front with wage freezes & pay cuts.

 

[Awesom Andy]

Re: Qantas to cut 1,000 Jobs.

If you're trying to obtain government guaranteed funding, or change foreign ownership rules, you would certainly try to put as much loss on paper as possible. And of course, it's easier to argue that you no longer want any 787s.

 

[VHOEJ]

Re: Qantas to cut 1,000 Jobs.

Joyce cops a lot of heat but it is amazing how much the Chairman and the board escape scrutinty. They ultimately sign off major decisions - and yet they escape a lot of attention. The board needs to get the sack.