Even Chief Executive Officer Eric Yuan claimed to be taking a pay cut of 98 percent for the coming fiscal year and forego his bonus.
The video conferencing software maker also said that their executive leadership team will reduce their base salary by 20 percent in the same period.
In any case, departing employees will receive 16 weeks of salary, healthcare coverage and a bonus for the year, Yuan said.
The aerospace company get sued by a shuttered South African airline for fraud over the latter’s agreement to buy eight 737 MAX planes and seek damages of at least $83 million.
Boeing “placed profits over safety and led with a plan of deception”, Comair’s suit filed Monday in US District Court in Seattle said. Predictably, Boeing declined to comment.
Comair said Boeing committed fraud over their failure to disclose problems with a key flight control system tied to two fatal 737 MAX crashes in 2018 and 2019 in Indonesia and Ethiopia that killed 346 people and led to the MAX’s 20-month grounding.
Comair operated flights for British Airways and their own brand Kulula.com until they ceased operations in June.
The airline said Boeing refused to return $45.2 million in advance payments they made on seven MAX planes. They had paid for and received one 737 MAX.
Polish national airline PLL LOT sued Boeing in late 2021 in Seattle on similar grounds over 737 MAX purchases and the suit is pending.
LOT in October asked a US judge in Texas to declare they were a crime victim in the Boeing 737 MAX criminal case and said they have at least $250 million in damages.
In the same month, US District Judge Reed O’Connor had ruled people killed in the two Boeing 737 MAX crashes are legally “crime victims”. LOT, of course, argued they should have the same rights.
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