Wirraway. 24th Jun 2003, 13:40. Still, that doesn’t mean they won’t get compensated. However, they have reportedly made plans to cut about 300 jobs, including pilots, cabin crew and engineers. “We also have voluntary no-pay leave, and we have actually had a very significant take-up on it.”. Share Singapore Airlines ’s (SIA) CEO said retrenchment is the last thing on their minds right now. , The pilots were all Captains and employed on expatriate terms. According to its latest annual report, the SIA … $('#spanCopyright').text(theDate.getFullYear()) In this way, SIA get experienced staff without too much salary cost Sent from there using GAGT READ MORE: How to manage retrenchments with dignity. The Singapore Airlines (SIA) Group today announced that it will retrench 414 Singapore-based employees, comprising office staff, airport workers and engineering personnel. READ MORE: Singapore Airlines has no plans to retrench staff The commercial aviation industry may not recover anytime soon with the International Air Transport Association forecasting that air travel demand will only return to pre-COVID levels around 2023. The airline is also working with Scoot and other industry partners to help find alternative work for those affected. The Democrat embraced a $908 billion approach from moderate Sens. Loyal. And recently Thai Airways became the first Asian national carrier to file for bankruptcy, with the government agreeing to support a ‘rehabilitation’ and ‘restructuring’ plan. The firm has also recently secured over $10 billion in fresh liquidity through recent rights issue as well as credit lines, including short-term loans with several banks, reported ST. “SIA will remain steadfast and agile during this period of great uncertainty and continue to act nimbly in responding to the evolving market conditions,” Goh said while thanking shareholders and banks for their support. “The pay cuts and (compulsory) no-pay leave will continue. Star Media Group Berhad (10894D), {{item['V1 Header']}} These people needs to do something else, sooner better than later. Not sure unless COVID goes away. No comments: Post a Comment. Due to the massive losses, SIA Group was also forced to retrench 4,300 of its employees in Sep. SIA CEO Goh Choon Phong blamed the pandemic and said, “Having to let go of our valuable and dedicated people is the hardest and most agonizing decision that I have had to make in my 30 years with SIA. June 24, 2020. Covid-19 Virgin Australia's chief executive Paul Scurrah has sent a note to staff warning another 150 head office jobs were likely to go as state border closures killed the tourism industry. I want SIA to be one of the best airlines in the world as I like going on vacation. SIA has tapped on the government’s Jobs Support Scheme, which offers firms in the hard-hit sector wage support up to 75% for nine months. Back then, SIA let go 414 staff. , SIA argues it is losing money ¡V it recorded a loss of S$204 million ($119) for the month of April ¡V and needs to cut costs. Cathay has cut executive salaries and staff are on voluntary unpaid leave – but the company said that job cuts are still possible. It’s worth noting that the SIA Engineering Company is also run by Temasek Holdings. Goh said that the decision to retrench the employees was based on the expectation that the road to recovery for the company will be “long and fraught with uncertainty”. Just to clarify,I dont think one should envy the allowance paid,they deserve it.Blame game now,but some in CC deserve brickbat,its been suspected Corporate behaviour,they will retrench,or any other name to thin the cashflow of billions inputed.Imo normal behaviour,look at other Airlines etc.Only difference,those with bad karma get … The lack of certain F&B outlets is noticeable since it’s hard for these shops to remain afloat with dwindling customer bases. MARKHAM, Ontario, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. (“Sienna” or the “Company”) (TSX: SIA) today provided the following update. View Full Version : Singapore Airlines may retrench 100 pilots. Companies in SIA group do not sack due to poor performance. , Latest Articles. NS for Sinkies, jobs for foreigners. Hooray for PAP. ESA is a joint venture between SIA Engineering Company (49%) and Pratt & Whitney (51%). Our daily newsletter is FREE and keeps you up-to-date with the world of HR. 4 COVID-19 Cases Today (19 Nov); All Are Imported Again. The sector has more than 130 companies, including Singapore firms such as ST Engineering Aerospace, SIA Engineering Company and Singapore Aerospace Manufacturing, as well as … SIA will also waive any outstanding settling-in loan and give them a notice pay-in-lieu, based on the basic salary at the point of departure. Like gambling. Retrenchment should always be the last resort. Process SIA Retrench Pilots Citing an oversupply of pilots and slow growth, Singapore Airlines (SIA) will be letting 76 pilots go before the expiry of their fixed-term contracts by June 30 this year. By Chief Editor Sam On Feb 8, 2019. Singapore The carrier’s labour union supported the idea but strictly opposed anything that would impact employee welfare. AirAsia is looking to reduce their manpower as reports surfaced of the low cost airliner looking to retrench up to 300 of their staff due to the company being badly hit by Covid-19. Written By Luna Tee. Mr Goh said that SIA is working with Singapore-based unions to finalise the arrangements for affected staff and to minimise stress and anxiety for them. Share to Twitter Share to Facebook Share to Pinterest. Helping Those Retrenched. The spokesman added that during the exercise, SIA deployed resources from across the company to support the affected staff. Retrench 1) if it is better for the company survival and competitiveness, they really should do it. SIA focused on recovery, not retrenchment: CEO With Covid-19 wreaking havoc on global air travel, Singapore Airlines chief Goh Choon Phong talks to The Sunday Times in … According to The Straits Times, any retrenched SIA staff will receive one month of pay for every year of service, capping off at 25 months. 172 pilots and 50 engineers, and those involved will be notified via email within 24 hours. Non-Taxable Retirement Benefits. SIA have hedged wrongly in the past. While many companies that retrench their workers do pay out compensations, it often takes months or even years for the funds to be disbursed. 2/3 into November and most of the cases are still imported cases. SINGAPORE, Sept 10 — The Singapore Airlines (SIA) Group announced today that it will be axing about 2,400 workers across SIA, SilkAir and Scoot in Singapore and overseas. Get help early before deciding to retrench. SIA had announced a drastic retrenchment of 9% of their workforce earlier this week. Things may soon pick up for staff as SIA makes plans to resume flights to several destinations, including Amsterdam, Hong Kong and Melbourne.  {{item['V1 Body']}} An SIA spokesperson told The Straits Times that SilkAir will help the retrenched staff to find other possible placement opportunities within SIA. SINGAPORE, Sept 15 (The Straits Times/ANN):Retrenched Singapore Airlines (SIA) staff who started receiving their pink slips from Monday (Sept 14) … Employers should consider cost-saving measures to manage excess manpower. Goh Choon Phong said their “immediate focus” is to manage costs and work on transforming the organisation. readers found this article insightful, Copyright © 1995- SIA eventually gave up its ground-handling arm Sats, but kept SIA Engineering which management viewed as part of the group's core business. SIA to retrench staff But..... Thread starter A Singaporean; Start date Mar 24, 2020; A Singaporean Alfrescian. ALPA-S, which represents around 1,600 SIA pilots, says the airline should retrench its 120 foreign-based pilots employed by SIA Mauritius before implementing staff cost-cutting measures. 'We are not going to let up on the various measures that we have for controlling costs'. Goh Choon Phong said their “immediate focus” is to manage costs and work on transforming the organisation. An SIA Engineering joint venture has been accused by its employees for being overly "radical" with its retrenchment exercises. Factoring in hiring freezes and early retirements, SIA will be reducing total workforce by 4,300," he said. MNCs also retrenching THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. SIA argues it is losing money ¡V it recorded a loss of S$204 million ($119) for the month of April ¡V and needs to cut costs. Karma is not for you to decide. 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