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. The past will catch up with them sooner or later. 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 … Like gambling. 1) if it is better for the company survival and competitiveness, they really should do it. Helping Those Retrenched. 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. It’s worth noting that the SIA Engineering Company is also run by Temasek Holdings. Retrenched Singapore Airlines staff have been told that they will continue to receive their salaries until Dec 15, - The Straits Times/Asian News Network, Tags / Keywords: COVID-19 George Yang-November 19, 2020. The airline is also working with Scoot and other industry partners to help find alternative work for those affected. This retrenchment will come into full effect when SilkAir transfers its existing services to Scoot, the budget arm of SIA. ... Additionally, SIA has been expanding their cost-containment measures, with the latest being bigger pay cuts for management, additional 10% cut for other staff, and offering early retirement for staff and pilots. In these difficult times, try to be nice to one another. “The pay cuts and (compulsory) no-pay leave will continue. It is also not an easy thing to do - predicting future price of fuel. An SIA Engineering joint venture has been accused by its employees for being overly "radical" with its retrenchment exercises. Karma is not for you to decide. Newer Post Older Post Home. 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. READ MORE: How to manage retrenchments with dignity. Stocks Retrench after NASDAQ Record, RBNZ Keeps Gold Climbing. ESA is a joint venture between SIA Engineering Company (49%) and Pratt & Whitney (51%). Retrenched SIA Staff Will Allegedly Get Up to 25 Months’ Pay & Also Paid in Lieu of the Notice Period Written By Ashley Seek It’s no secret that the coronavirus has affected lots of businesses. The spokesman added that during the exercise, SIA deployed resources from across the company to support the affected staff. Are employees entitled to paid sick leave while awaiting COVID-19 test results? 50 companies with the best workplace culture, Cathay Pacific secured a $5billion bailout package, first Asian national carrier to file for bankruptcy, As economic crisis looms, employers turn to old cost-cutting methods. Spread the love. Surely. SIA had announced a drastic retrenchment of 9% of their workforce earlier this week. The pilots were all Captains and employed on expatriate terms. 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. 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. 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. 172 pilots and 50 engineers, and those involved will be notified via email within 24 hours. No comments: Post a Comment. Their contracts have been prematurely cancelled a few years early. Hooray for PAP. Hiring? MARKHAM, Ontario, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. (“Sienna” or the “Company”) (TSX: SIA) today provided the following update. “We also have voluntary no-pay leave, and we have actually had a very significant take-up on it.”. We evaluate the Relative Strength between asset classes giving us insight into money flows on a large scale, and from this select top ranked investments. Additionally, SIA staff, including crew members have been offered alternative job openings as well as volunteer opportunities while the bulk of their flights remain grounded. Benefits SIA Engineering joint venture allegedly laid off 144 employees in two retrenchment exercises Eagle Services Asia Pte Ltd, an aircraft Maintenance, Repair and Overhaul (MRO) joint venture between Singapore Airlines (SIA) Engineering Company and original equipment manufacturer Pratt & Whitney , reportedly executed two retrenchment exercises within three days, according to Chinese … "To all the SIA and crew haters, arent you happy now?" If you need any of the following, you can submit an early alert to us: Get information on government assistance schemes to support your restructuring exercise. Retrench SilkAir will also be letting go about 100 of its staff who are based in Indonesia, India, China, Thailand, Malaysia, Laos and Myanmar, over the next 20 months. SIA GROUP TO RETRENCH 414 STAFF The Singapore Airlines (SIA) Group today announced that it will retrench 414 Singapore-based employees, comprising office staff, airport workers and engineering personnel. SIA to retrench staff But..... Thread starter A Singaporean; Start date Mar 24, 2020; A Singaporean Alfrescian. , SIA eventually gave up its ground-handling arm Sats, but kept SIA Engineering which management viewed as part of the group's core business. They will however continue with cost-cutting measures, in place since the start of the crisis. $('#spanCopyright').text(theDate.getFullYear()) Why I want SIA to retrench? Sinkies as always will be the losers. In a memo to staff, SIA chief executive Goh Choon Phong said it was a “painfully difficult decision” to retrench staff, the toughest one that he has had to make in his 30 years at SIA. Singapore 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. SIA a couple of days ago began to retrench pilots from the A340 and A310 fleets. Singapore Airlines (SIA) Group will cut around 4,300 positions across its three airlines as it continues to grapple with the impact of the COVID-19 pandemic, it announced on September 10. Tan Kong Hwee, executive vice-president of the Economic Development Board (EDB), told TODAY that the aerospace industry employs more than 22,000 people, about 80 per cent of whom are Singapore residents.. 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. Goh Choon Phong said their “immediate focus” is to manage costs and work on transforming the organisation. , Loyal. 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. Employers should consider cost-saving measures to manage excess manpower. However, they have reportedly made plans to cut about 300 jobs, including pilots, cabin crew and engineers. ... SIA Wealth Management (SIAWM) is an independent investment management firm founded in 2014 and focused on creating financial wealth for investors by building diversified portfolios through relative strength analysis. An SIA spokesperson told The Straits Times that SilkAir will help the retrenched staff to find other possible placement opportunities within SIA. 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 … This, while the rest of the aviation sector resort to bailouts and layoffs to contend with mounting losses and debt. Cathay has cut executive salaries and staff are on voluntary unpaid leave – but the company said that job cuts are still possible. Fun Friday: Is Christmas ‘cancelled’ this year. I want SIA to be one of the best airlines in the world as I like going on vacation. It’s worth noting that the SIA Engineering Company is also run by Temasek Holdings. Covid-19: All Tengku Ampuan Rahimah Hospital staff to undergo screening soon, says S'gor MB, Pandemic-hit Singapore Airlines launches plane dining and takeaway cabin food, Singapore Airlines seeks liquidity after record loss, Thai actress aiding protests charged with insulting monarchy, 10 new Covid-19 cases in Singapore, one in the community, Trade counsellors abroad told to boost trust in Thai seafood, Nearly 30 per cent of Cambodian migrant workers lose income, All aboard the billionaires' bitcoin bandwagon, India too suspends all flights from UK as concerns grow over new virus strain, World's oldest captive giant panda passes away, PM mulling whether to cancel Thailand's New Year celebrations, Demand for cold storage facilities grows with e-commerce popularity, Philippines to get 30 million doses of India's Novavax vaccine. 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. Joe Manchin, D-W.Va., and Susan Collins, R-Maine, among others intended to … 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. ALPA-S, which represents around 1,600 SIA pilots, says the airline should retrench its 120 foreign-based pilots employed by SIA Mauritius before … A decade later, the challenges facing SIA are more intense and the need to keep a constant eye on costs, critical. Wirraway. Our daily newsletter is FREE and keeps you up-to-date with the world of HR. Share to Twitter Share to Facebook Share to Pinterest. 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. The International Air Transport Association last month said the global airline industry’s debt could rise by 28% to $550 billion this year, which includes $123 billion in financial aid from governments. SINGAPORE, Sept 15 (The Straits Times/ANN):Retrenched Singapore Airlines (SIA) staff who started receiving their pink slips from Monday (Sept 14) … Understand how to apply the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment. Otherwise when? knowwhatyouwantinlife These people needs to do something else, sooner better than later. According to MalaysiaKini , the lay off will involve 111 cabin crew. Process 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”. The lack of certain F&B outlets is noticeable since it’s hard for these shops to remain afloat with dwindling customer bases. View Full Version : Singapore Airlines may retrench 100 pilots. Anonymous said... "To all the SIA and crew haters, arent you happy now?" This, while the rest of the aviation sector resort to bailouts and layoffs to contend with mounting losses and debt. readers found this article insightful, Copyright © 1995- Things may soon pick up for staff as SIA makes plans to resume flights to several destinations, including Amsterdam, Hong Kong and Melbourne. Reuters Singapore Air may lay off 1,000 cabin crew-paper SINGAPORE, June 24 (Reuters) - Singapore Airlines Ltd may retrench 100 pilots and 1,000 cabin crew within a few weeks, in the second round of job cuts after it laid off 414 staff, the Business Times said on Tuesday. SIA have hedged wrongly in the past. NS for Sinkies, jobs for foreigners. This move by SIA to invite foreign pilots to make up for the supposed manpower shortfall is puzzling because just 2 years ago, SIA announced that it would be shedding (retrenching or voluntary retirement) 12% of its pilot pool due to the business slowdown and it claimed in 2016 that it still had more than enough pilots than it needed. Revealed: The one skill HR needs skill to survive 2021. A lot of deadweight built up over the years taking up headcount. Eagle Services Asia Pte Ltd, an aircraft Maintenance, Repair and Overhaul (MRO) joint venture between Singapore Airlines (SIA) Engineering Company and … “We are not going to let up on the various measures that we have for controlling costs, including staff costs,” Goh told The Straits Times (ST).  {{item['V2 Header']}}. SIA Retrench Pilots In 2016 Due To Oversupply But Now Invites Indian Vistara Pilots To Fly For SIA To Meet “Manpower Needs”? In this way, SIA get experienced staff without too much salary cost Sent from there using GAGT According to MalaysiaKini , the lay off will involve 111 cabin crew. In a memo to staff, SIA chief executive Goh Choon Phong said it was a “painfully difficult decision” to retrench staff, the toughest one that he has had to make in his 30 years at SIA. }) The Singapore Airlines (SIA) Group today announced that it will retrench 414 Singapore-based employees, comprising office staff, airport workers and engineering personnel. Share Singapore Airlines ’s (SIA) CEO said retrenchment is the last thing on their minds right now. You've reached your limit - Register for free now for unlimited access, To read the full story, just register for free now - GET STARTED HERE. Can employers force staff to take the COVID-19 vaccine? Popular budget carrier AirAsia has also sought help from banks to fund its operations. THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. SINGAPORE, June 24 (Reuters) - Singapore Airlines Ltd may retrench 100 pilots and 1,000 cabin crew within a few weeks, in the second round of job cuts after it laid off 414 staff, the Business Times said on Tuesday. And on 10 Sept, Singapore Airlines (SIA) had to retrench many employees as well. ESA is a joint venture between SIA Engineering Company (49%) and Pratt & Whitney (51%). 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. 31/5/20 Post a Comment. The last time SIA had to retrench employees was in 2003. Newer Post Older Post Home. 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