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SIA
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SIA revived
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Goldfinger
Supreme |
11-Sep-2020 14:35
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I am not convinced that there are no pilots from other countries that cannot take our SQ Pilot place.  There are many Australian and American pilots who are just as good if not much better than SQ Singaporean pilots. And they are usually far more gracious and humble than our local SQ Pilots.  The ones I know, tend to think that they are mighty as the sky. Good to see them eat humble pie, finally.  And we should not be paying them out of our own shareholder pockets to sit at home to watch Netflix???.
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uiop1223
Supreme |
11-Sep-2020 14:21
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Hey! Welcome back.
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Thiamm
Veteran |
11-Sep-2020 13:53
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SIA staff are just like any employees, don' t wish to lose their livelihood. Don' t blame them, it is always a decision by the Mgmt and TH cos of the love of national flyer by " you know who" . No right or wrong during the pandemic but it hurt the shareholders commercially.   
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TA_Expert
Supreme |
11-Sep-2020 13:50
Yells: "The World has changed" |
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You have to ve extremely careful when dealing with airline employees especially the pilots. Without pilots, your airline is a goner. That' s why pilots know their values. When things normalised in 2-3 years after the Covid, and travelling resumes, and SIA will not be able to find sufficient pilots if it mistreated them during the crisis. If you know people in the SQ pilots circle, we will know that there only a small pool of SQ Singaporean pilots. Majority of the pilots are foreiginers. SIA finally made this decision after so long because they are afraid of the repercusson effects after the crisis. As reported in the media, most of the retrenched employees are foreigners. These people are smart. They take the huge benefits out, and know that they will be re-employed again in 2-3 years times after the covid is over especially the pilots who have collective bargaining power as the airline will need them to run the business.
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john_ric
Supreme |
11-Sep-2020 13:49
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SINGAPORE: Singapore Airlines (SIA) Group announced on Thursday (Sep 10) that it will cut around 4,300 positions across its three airlines as the aviation industry continues to be hit by the impact of COVID-19. However, the number of employees affected may be reduced to about 2,400 -" mitigated" by measures like the recruitment freeze implemented in March, the early retirement scheme for ground staff and pilots, as well as a voluntary release scheme for cabin crew, it said. |
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john_ric
Supreme |
11-Sep-2020 13:46
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SIA going thru  turbulence!!   |
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Omega_99
Member |
11-Sep-2020 10:32
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luckily share price is not dropping, its good :-)
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Goldfinger
Supreme |
11-Sep-2020 10:30
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To be fair to shareholders, we cannot keep paying and subsidizing the livelihoods of SIA Pilots and Cabin Crew who are flying at less than 20 per cent utilisation for years to come. They should expect that every job has its risks and good times and bad times - and no one owes them a living just because they work in SQ.  They can also find jobs in other developing countries, like every other Singaporean who has lost their job in Singapore. We should push this case to the SQ Management Board and insist that they slash pay across the Board. If they leave, then SIA can always hire back at half-pay.
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Trader130
Supreme |
11-Sep-2020 10:27
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May I know how many senior SIA management staff are there ? Heard they still paying them $4000 basic pay ...  | ||||
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investor999
Elite |
11-Sep-2020 10:11
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I will buy up to target hit your 3.75. Then I will sell to you
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Joelton
Supreme |
11-Sep-2020 09:29
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2,400 SIA staff affected as group cuts 4,300 positions
  The layoffs had been widely anticipated, and come as international travel continues to be paralysed.
 
Vast majority of those laid off are foreigners employees told of move at virtual meetings
 
In its latest and most drastic measure to deal with operations battered by the Covid-19 pandemic, the Singapore Airlines (SIA) Group said yesterday that it has decided to cut around 4,300 positions.
 
However, the number of employees impacted by the exercise may be fewer - perhaps around 2,400 - as measures such as a recruitment freeze, natural attrition and voluntary departure schemes may cushion the blow.
 
The vast majority of those affected are foreigners.
 
Several other major international airlines such as Qatar Airways and United Airlines have already announced significant job cuts, with the Covid-19 pandemic wiping out demand for international air travel.
 
The SIA Group said: " This decision was taken in the light of the long road to recovery for the global airline industry due to the debilitating impact of the Covid-19 pandemic, and the urgent need for the group' s airlines to adapt to an uncertain future."
 
Staff from SIA, SilkAir and Scoot were told of the move at virtual meetings yesterday evening, before the decision was made public.
 
The SIA Group said it expects to operate at less than 50 per cent of its capacity at the end of the financial year in March next year, as compared with the levels before the Covid-19 pandemic. It is currently operating at only 8 per cent of its usual capacity.
 
The group said: " Relative to most major airlines in the world, the SIA Group is in an even more vulnerable position as it does not have a domestic market that will be the first to see a recovery.
 
" In order to remain viable in this uncertain landscape, the group' s airlines will operate a smaller fleet for a reduced network compared to their pre-Covid operations in the coming years."
 
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 the company.
 
Mr Goh said that the group is working with Singapore-based unions to finalise the arrangements for affected staff and to minimise stress and anxiety for them.
 
" For our impacted colleagues, please know that this is not a reflection of your individual strengths and capabilities," he said.
 
" It is the result of an unprecedented travel paralysis brought about by a global pandemic."
 
Mr Goh assured staff that they will get all the necessary support during this trying time. He also urged staff to rally together to get through this difficult period.
 
Transport Minister Ong Ye Kung said that " what we have dreaded all these months has happened" with SIA' s decision to cut jobs.
 
He said the Government will do all it can to restore air travel in a safe manner.
 
The National Trades Union Congress added that it will assist affected workers in any way it can.
 
The layoffs had been widely anticipated as international travel continues to be paralysed, with governments enforcing strict border controls to contain the pandemic.
 
While there has been some reopening in recent weeks for essential business and official travel between Singapore and selected countries, including China, the passenger and flight numbers are a fraction of pre-pandemic days.
 
The International Air Transport Association has said that passenger demand for air travel is not expected to return to pre-crisis levels until 2024.
 
In July, SIA had reported a $1.12 billion net loss in the quarter ended June 30 - its largest quarterly loss on record - as demand plummeted amid travel restrictions.
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ffff152100ffff
Master |
11-Sep-2020 09:28
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Still OK, drop not much..
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SAVIORFOREVER
Supreme |
11-Sep-2020 08:59
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Use what money to pay for retrenchment?
How much are they burning every month? Sell the planes, buy one get one free? Trade with awareness and DYODD
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Checkerman
Master |
11-Sep-2020 08:12
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Partly middle management above also draw high salary
SIA is one of the TOP best employer
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uiop1223
Supreme |
11-Sep-2020 08:10
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SIA should capped the retrenchment benefits. Like most MNCs capped at max 10 - 20mths. If a person work there 40yrs, SIA going to pay 40mths retrenchment benefits?! Waste of taxpayers money! Temasek is taxpayers money! Not ah gong money to begin with.
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Goldfinger
Supreme |
11-Sep-2020 08:05
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They should Chop 50 percent of air crew. Hire back cheap once Covid over. | ||||
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Stocky901
Supreme |
11-Sep-2020 08:05
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temasek keep loosing big monies? times to lay off some of their staff or cut their fat pays.. 😡 😡
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Checkerman
Master |
11-Sep-2020 07:55
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7-8 billion raised from the placement shares already 50% gone | ||||
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redbull888
Veteran |
11-Sep-2020 07:55
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issue another Rights?
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des_khor
Supreme |
11-Sep-2020 07:41
Yells: "Tell me who is God or Market Fortune Teller in this forum ??" |
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Like that enough money to burn meh as also burned 50% of public money ....
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