In Discussions, Life

Furious.

FURIOUS.

Bombardier lays off over 10% of their employees (~ 14,500 employees when all is said and done globally).

Gets a bailout from the government (us, taxpayers) to the tune of  $1 billion in U.S. dollars (which at a $1.30 exchange rate is $1.3 billion CAD…

…..and then gives themselves a 50% pay rise only for the top 5 executives

(March 29th 2017)

WTF.

It’s simple.

Pay back what you owe before you reward yoruself.

They OWE Canadians that money. We are funding that bailout (and I hear another one is coming).

Not only that, they fired employees in an effort to streamline and be efficient (fine, it helps the bottom line), but then it all goes into the top 5 executive pockets?


It’s like borrowing $10,000 from the bank from a line of credit to pay your rent and bills, and then going out and going on a shopping spree with that borrowed money.

WTF.

It’s the same goddamn, hated #%*&@%* money situation all over again, but this time we Canadians are the ones ones being stolen from and the Bombardier executives are the ones who don’t know how to handle a budget and are unconscionably stealing from those who can’t afford it (Canadians as a whole).

We aren’t rolling in the dough, but apparently they are.

Guess this pretty much proves that a lot of smart people are idiots (smart, relatively speaking because they’re pretty #%*&# stupid for thinking no one would care or notice), and that executives are mostly a bunch of greedy #%&@%&(s.

How about this, Bombardier?

1. Pay back what you owe to Canadians because it’s a DEBT, and I suggest at least at a 2% interest rate (what you can get at a high-interest savings account)

2. Take a pay CUT in top executive salaries to help the company be profitable if you can’t hack it with your brains alone because you need to TRIM EXPENSES to make a budget balance

3. Stop asking for money from the Canadians you are firing especially since you can’t seem to figure out how to spend it properly to become profitable to hire them again.

ARRRRRRGGGHH!!!!!

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Sherry of Save. Spend. Splurge.

Millionaire at 36 after getting out of $60K of student debt in 18 months, a little over a decade earlier, using TheBudgetingTool.com. Since then, I have paid my $600K home in cash (my half was $300K), my $180K casr in cash, worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K with an average lifetime savings rate of 50%. I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I am all about balance - between time and money, and also enjoying my money. I also post daily on Instagram @saverspender.

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1 Comment

  1. SarahN

    Sorta like my team at work. I have a bonus (it’s less than $10k, so nice, but nothing insane), and I reinvest it in them – Christmas gift cards, meals, etc etc. WEll this Christmas they boycotted as I had to give someone a letter saying he was surplus to our teams’ requirements. Let it be understood – he has a job. He’s still paid. He’s just needing to find a role elsewhere in the org. If he doesn’t, he still gets paid. If he volunteers, he’ll get redundancy. He cannot be forced. And they thought leaving me with gift cards would send a message to ‘management’ about bonuses… it didnn’t

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