SIA June 24, 2020. ALPA-S, which represents around 1,600 SIA pilots, says the airline should retrench its 120 foreign-based pilots employed by SIA Mauritius before … Can employers force staff to take the COVID-19 vaccine? Hooray for PAP. A decade later, the challenges facing SIA are more intense and the need to keep a constant eye on costs, critical. Process var theDate = new Date(); PM Lee: Singapore to move into 'phase 3' of pandemic. Goh Choon Phong said their “immediate focus” is to manage costs and work on transforming the organisation. $(document).ready(function () { , This, while the rest of the aviation sector resort to bailouts and layoffs to contend with mounting losses and debt. In these difficult times, try to be nice to one another. The three airlines under SIA Group are SilkAir, Scoot Tigerair and national carrier Singapore Airlines. 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. 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 past will catch up with them sooner or later. Experts Say SIA Might Retrench More People As 2021 Might Be Worse Than 2020. Retrench Compared to the hundreds of layoffs during the 2003 SARS crisis, the scale of … Written By Luna Tee. Popular budget carrier AirAsia has also sought help from banks to fund its operations. READ MORE: How to manage retrenchments with dignity. , Otherwise when? knowwhatyouwantinlife Companies in SIA group do not sack due to poor performance. }) Surely. "To all the SIA and crew haters, arent you happy now?" 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 … Their contracts have been prematurely cancelled a few years early. Are employees entitled to paid sick leave while awaiting COVID-19 test results? The Singapore Airlines (SIA) Group today announced that it will retrench 414 Singapore-based employees, comprising office staff, airport workers and engineering personnel. {{item['V2 Header']}}. 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. Then when biz pick up, re-hire them and reset their paygrade starting from Day 0. 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. In this way, SIA get experienced staff without too much salary cost Sent from there using GAGT Not sure unless COVID goes away. The 414 staff represent 1.5 per cent of the SIA … I want SIA to be one of the best airlines in the world as I like going on vacation. These people needs to do something else, sooner better than later. 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. 2/3 into November and most of the cases are still imported cases. 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. No comments: Post a Comment. Goh Choon Phong said their “immediate focus” is to manage costs and work on transforming the organisation. Retirement benefits are not taxable if they are received from the following tax exempt pension schemes/funds: Government pension schemes under any written law relating to pensions in Singapore (including the Pensions Act, Singapore Armed Forces Act and Parliamentary Pensions Act); and ... 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. It is also not an easy thing to do - predicting future price of fuel. 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. Benefits 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. 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. Hiring? MNCs also retrenching Helping Those Retrenched. SIA had announced a drastic retrenchment of 9% of their workforce earlier this week. {{item['V1 Body']}} SIA a couple of days ago began to retrench pilots from the A340 and A310 fleets. 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. Uncle here been a waiter, dish washer, pizza deliverer, cook, courier, ops manager, auxiliary police, security guard, uber driver, private investigator, property agent, recreational divemaster, commercial diver, until now still haven settle down and looking forward to my next adventure. Sinkies as always will be the losers. Understand how to apply the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment. Factoring in hiring freezes and early retirements, SIA will be reducing total workforce by 4,300," he said. The Democrat embraced a $908 billion approach from moderate Sens. Union leaders were also … It’s worth noting that the SIA Engineering Company is also run by Temasek Holdings. Share. 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. And do you think they will be hiring anytime soon? June 24, 2020. Most likely it may retrench about 2,000 to 3,000 of the CC. 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. This, while the rest of the aviation sector resort to bailouts and layoffs to contend with mounting losses and debt. Previously on 28 July, it was reported that ESA has retrenched 144 of its employees between 22 and 24 July, but the firm refuted the retrenchment allegations and assured that all its employees were still on its payroll. Fun Friday: Is Christmas ‘cancelled’ this year. 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.. SINGAPORE, Sept 15 (The Straits Times/ANN):Retrenched Singapore Airlines (SIA) staff who started receiving their pink slips from Monday (Sept 14) … Email This BlogThis! 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. 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. Share Singapore Airlines ’s (SIA) CEO said retrenchment is the last thing on their minds right now. Do you think SIA will retrench their CC? , 'We are not going to let up on the various measures that we have for controlling costs'. 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. The lack of certain F&B outlets is noticeable since it’s hard for these shops to remain afloat with dwindling customer bases. A lot of deadweight built up over the years taking up headcount. Karma is not for you to decide. The airline also outsourced its information technology work, cutting more than 400 jobs. SIA staff retrenched to receive 1 month's pay for every year of service, capped at 25 months "Retrenchments should generally not result in a reduced proportion of local employees. NS for Sinkies, jobs for foreigners. 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. 2,400 employees from across the group’s 20 subsidiaries, including Scoot and SilkAir, failed to make the cut. Last edited by Rayleigh1; 13-09-2020 at 11:51 AM .. The carrier’s labour union supported the idea but strictly opposed anything that would impact employee welfare. 4 COVID-19 Cases Today (19 Nov); All Are Imported Again. 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. Check out our Christmas issue for ideas on gifting and ways to enjoy the festivities to the fullest. Get help early before deciding to retrench. Eagle Services Asia Pte Ltd, an aircraft Maintenance, Repair and Overhaul (MRO) joint venture between Singapore Airlines (SIA) Engineering Company and … The last time SIA had to retrench employees was in 2003. SIA to retrench staff But..... Thread starter A Singaporean; Start date Mar 24, 2020; A Singaporean Alfrescian. Effects, 67% SIA eventually gave up its ground-handling arm Sats, but kept SIA Engineering which management viewed as part of the group's core business. COVID-19 George Yang-November 19, 2020. Has Begun THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. Should just bite the bullet and Retrench 75%. SIA have hedged wrongly in the past. Mar 24, 2020 #1 Will it be foreigners first? , SIA Retrench Pilots In 2016 Due To Oversupply But Now Invites Indian Vistara Pilots To Fly For SIA To Meet “Manpower Needs”? An SIA Engineering joint venture has been accused by its employees for being overly "radical" with its retrenchment exercises. Employers should consider cost-saving measures to manage excess manpower. 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Things may soon pick up for staff as SIA makes plans to resume flights to several destinations, including Amsterdam, Hong Kong and Melbourne. 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. 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. ESA is a joint venture between SIA Engineering Company (49%) and Pratt & Whitney (51%). The Straits Times website, our local newspaper, reports that some local A340 pilots may well be retrenched too. 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. SIA also arranged for on-site counsellors and medical staff, and provided transport to and from their homes." 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. Stocks Retrench after NASDAQ Record, RBNZ Keeps Gold Climbing. SINGAPORE, Sept 15 (The Straits Times/ANN):Retrenched Singapore Airlines (SIA) staff who started receiving their pink slips from Monday (Sept 14) … 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. View Full Version : Singapore Airlines may retrench 100 pilots. 24th Jun 2003, 13:40. 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: Non-Taxable Retirement Benefits. ESA is a joint venture between SIA Engineering Company (49%) and Pratt & Whitney (51%). 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. 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 … Still, that doesn’t mean they won’t get compensated. Back then, SIA let go 414 staff. Latest Articles. 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. It’s worth noting that the SIA Engineering Company is also run by Temasek Holdings. Newer Post Older Post Home. Stocks Retrench after NASDAQ Record, RBNZ Keeps Gold Climbing. 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