10-27% attrition in new hire classes
03-31-2022, 02:40 AM
#133
Gets Weekends Off
Joined APC: Apr 2007
Posts: 458
The last contract got full retro on pay for every pilot, including those who had retired or left Southwest, going back to the amendable date. Granted there was no retro on pay into the retirement programs.
03-31-2022, 06:32 AM
#134
Gets Weekends Off
Joined APC: Sep 2011
Posts: 1,027
Nor did we get it for 2012. We traded that for the privilege of flying the shiny game changer.
03-31-2022, 06:52 AM
#135
Gets Weekends Off
Joined APC: Feb 2018
Posts: 1,264
If I don’t pay a creditor for several years, the interest adds up. But the company got away with not paying us what we were worth for several years past the amendable date. We didn’t demand that they pay us the interest most other creditors would have insisted on if a debt wasn’t paid for an extended period of time. We effectively gave them an interest-free loan for four-plus years. They were able to earn the interest on that money instead of us. That was very giving of us. If I were them, I’d do the same thing again this time.
03-31-2022, 07:07 AM
#136
At your mom's house
Joined APC: Jun 2008
Position: cpt 737
Posts: 2,798
Right. I think what Zman81 is getting at, though, is that, like you point out, they didn’t give us full retro on retirement contributions (which is significant in itself) and also there was no interest payment penalty associated with the retro to account for the lost time value of money that the pilot group incurred for the company dragging its feet.
If I don’t pay a creditor for several years, the interest adds up. But the company got away with not paying us what we were worth for several years past the amendable date. We didn’t demand that they pay us the interest most other creditors would have insisted on if a debt wasn’t paid for an extended period of time. We effectively gave them an interest-free loan for four-plus years. They were able to earn the interest on that money instead of us. That was very giving of us. If I were them, I’d do the same thing again this time.
If I don’t pay a creditor for several years, the interest adds up. But the company got away with not paying us what we were worth for several years past the amendable date. We didn’t demand that they pay us the interest most other creditors would have insisted on if a debt wasn’t paid for an extended period of time. We effectively gave them an interest-free loan for four-plus years. They were able to earn the interest on that money instead of us. That was very giving of us. If I were them, I’d do the same thing again this time.
03-31-2022, 07:31 AM
#137
gets time off
Joined APC: Apr 2007
Posts: 1,234
The pilot group did not get full retro. Not even close to it. A few have pointed it out.
04-13-2022, 11:49 AM
#139
Gets Weekends Off
Joined APC: Oct 2019
Posts: 414
Ugh, sorry dude, the whole purpose of retro is to ensure payment into retirement programs. If you didn't get that, you didn't get retro.
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