Subject: OT: How United is spending its tax windfalll
'At first blush, this might seem like a rather generous giveaway.
However, it turns out be much less than what the airline is currently
paying out with its $300 quarterly bonus.
These 1,361 prizes add up to $4.7 million in giveaways each quarter.
That’s equivalent to about 15,667 employees receiving $300 quarterly
bonuses. But per United’s 2017 annual SEC filing, the airline employs
89,800 employees. While it’s unclear how many of those employees are
eligible for the $300 quarterly bonus, it’s surely more than 17.4%.
But let’s assume that just unionized employees who work as flight
attendants (22,676 employees), in passenger service (13,299) and pilots
(9,535) are the only ones eligible. Those 45,510 employees would have
been eligible to earn a total of up to $54.6 million in bonuses per year
under the old $300/quarter system. The new system caps the airline’s
quarterly bonus costs at $18.8 million per year. That’s tens of millions
less in employee bonuses.'