Wazua
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Kenya Airways...why ignore..
Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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maka wrote:Mid and top level managers have agreed to stop their contributions to the KQ provident fund...This will release some 450m plus for the year...discussion with other employees still ongoing...duty allowance also stopped... A good strategy like that of MSC where pay cuts and some benefits were scrapped off employees' emoluments. It will pay off in the long run. Caveat: don't expect price rally tomorrow. John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: User Joined: 1/20/2014 Posts: 3,528
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Spikes wrote:maka wrote:Mid and top level managers have agreed to stop their contributions to the KQ provident fund...This will release some 450m plus for the year...discussion with other employees still ongoing...duty allowance also stopped... A good strategy like that of MSC where pay cuts and some benefits were scrapped off employees' emoluments. It will pay off in the long run. Caveat: don't expect price rally tomorrow. That is a stupid move, will take KQ nowhere!!! Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Elder Joined: 6/23/2009 Posts: 14,329 Location: nairobi
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Othelo wrote:Spikes wrote:maka wrote:Mid and top level managers have agreed to stop their contributions to the KQ provident fund...This will release some 450m plus for the year...discussion with other employees still ongoing...duty allowance also stopped... A good strategy like that of MSC where pay cuts and some benefits were scrapped off employees' emoluments. It will pay off in the long run. Caveat: don't expect price rally tomorrow. That is a stupid move, will take KQ nowhere!!! Considering a loss in excess of 25B, KES 450M savings look like peanuts.. However, its the thought that counts.. The sum total of all austerity initiatives and not a single item COOP, IMH, KEGN, KQ, MTNU
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Othelo wrote:Spikes wrote:maka wrote:Mid and top level managers have agreed to stop their contributions to the KQ provident fund...This will release some 450m plus for the year...discussion with other employees still ongoing...duty allowance also stopped... A good strategy like that of MSC where pay cuts and some benefits were scrapped off employees' emoluments. It will pay off in the long run. Caveat: don't expect price rally tomorrow. That is a stupid move, will take KQ nowhere!!! Not really the amount of funds the company is going to save going forward will be out of this world some few Billions...the crisis will end ...not now...but it will end...but that f***er Naikuni and Alex Mbugua should be jailed...the dude is out there Scot free enjoying his retirement and getting pension...while the remaining employees forgo a whole year of retirement savings...unforgivable possunt quia posse videntur
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Rank: Elder Joined: 6/23/2009 Posts: 14,329 Location: nairobi
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Rank: Chief Joined: 1/3/2007 Posts: 18,383 Location: Nairobi
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maka wrote:Mid and top level managers have agreed to stop their contributions to the KQ provident fund...This will release some 450m plus for the year...discussion with other employees still ongoing...duty allowance also stopped... Hold on. Explain this to me. If KQ employees stop their contributions [taken from salaries paid] to the Provident Fund how does that help KQ? If I make 100,000 [take home after taxes/NHIF/NSSF] & contribute 5,000 to the Provident Fund [reducing my take home to 95,000] that's my contribution. How is KQ affected? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 14,329 Location: nairobi
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VituVingiSana wrote:maka wrote:Mid and top level managers have agreed to stop their contributions to the KQ provident fund...This will release some 450m plus for the year...discussion with other employees still ongoing...duty allowance also stopped... Hold on. Explain this to me. If KQ employees stop their contributions [taken from salaries paid] to the Provident Fund how does that help KQ? If I make 100,000 [take home after taxes/NHIF/NSSF] & contribute 5,000 to the Provident Fund [reducing my take home to 95,000] that's my contribution. How is KQ affected? Employers have a matching component, so if employees agree to drop their contrubution then the employer saves.. Wewe kwani hujawai kuwa employee?? COOP, IMH, KEGN, KQ, MTNU
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Rank: Chief Joined: 1/3/2007 Posts: 18,383 Location: Nairobi
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obiero wrote:VituVingiSana wrote:maka wrote:Mid and top level managers have agreed to stop their contributions to the KQ provident fund...This will release some 450m plus for the year...discussion with other employees still ongoing...duty allowance also stopped... Hold on. Explain this to me. If KQ employees stop their contributions [taken from salaries paid] to the Provident Fund how does that help KQ? If I make 100,000 [take home after taxes/NHIF/NSSF] & contribute 5,000 to the Provident Fund [reducing my take home to 95,000] that's my contribution. How is KQ affected? Employers have a matching component, so if employees agree to drop their contrubution then the employer saves.. Wewe kwani hujawai kuwa employee?? No. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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VituVingiSana wrote:obiero wrote:VituVingiSana wrote:maka wrote:Mid and top level managers have agreed to stop their contributions to the KQ provident fund...This will release some 450m plus for the year...discussion with other employees still ongoing...duty allowance also stopped... Hold on. Explain this to me. If KQ employees stop their contributions [taken from salaries paid] to the Provident Fund how does that help KQ? If I make 100,000 [take home after taxes/NHIF/NSSF] & contribute 5,000 to the Provident Fund [reducing my take home to 95,000] that's my contribution. How is KQ affected? Employers have a matching component, so if employees agree to drop their contrubution then the employer saves.. Wewe kwani hujawai kuwa employee?? No. For KQ its 10% - 10% so the whole amount will be held by the airline instead of going to the PF... possunt quia posse videntur
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Rank: Chief Joined: 1/3/2007 Posts: 18,383 Location: Nairobi
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maka wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:maka wrote:Mid and top level managers have agreed to stop their contributions to the KQ provident fund...This will release some 450m plus for the year...discussion with other employees still ongoing...duty allowance also stopped... Hold on. Explain this to me. If KQ employees stop their contributions [taken from salaries paid] to the Provident Fund how does that help KQ? If I make 100,000 [take home after taxes/NHIF/NSSF] & contribute 5,000 to the Provident Fund [reducing my take home to 95,000] that's my contribution. How is KQ affected? Employers have a matching component, so if employees agree to drop their contrubution then the employer saves.. Wewe kwani hujawai kuwa employee?? No. For KQ its 10% - 10% so the whole amount will be held by the airline instead of going to the PF... Please explain further, I did not understand it. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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