It is not only the estimated 1,000 AMSA employees who face retrenchment by the end of March 2020, but almost the same number of workers are … But both he and Lin said that the company has been “fair” to them so far, given the circumstances. In other words, they could’ve retrenched 4,200 people instead. SIA also arranged for counsellors, medical staff, and members of its unions to be present to provide support. You can read more about the fate of air travel here: We’re officially one week away from Phase Three, and all of a sudden, things don't look so goody now. The retrenchment exercise – which affects about 2,400 staff – is being conducted at the SIA Training Center, near Changi Airport, for Singapore-based staff. In a press statement, SIA said that it had to cut about 4,300 position across its airlines, however, the retrenchment has been “mitigated by a recruitment freeze that was implemented in March 2020, open vacancies that were not filled, an early retirement scheme for ground staff and pilots, and a voluntary release scheme for cabin crew”. South Africa is now entering a ‘retrenchment season’ as it grapples with the impact of the coronavirus lockdown, says law firm Cliffe Dekker Hofmeyr. So far, Lin has not received the dreaded retrenchment email, but she said that everyone was anxious when the news broke. The airline employees welcomed the break at first, but as the COVID-19 outbreak drags on and airplanes remain grounded, the uncertainty has been unsettling, they said. Here’s the thing: things won’t go back to normal even if a vaccine is developed tomorrow. But for M1? The SIA Group had more than 28,000 employees across three airlines and SIA Engineering as of Mar 31, according to its FY2019/2020 annual report. Further to our article first published on 14 May 2020, here is an update on the current situation in view of COVID-19, the Ministry of Health has recently announced the end of the Circuit Breaker on 1 June 2020 and a 3- phase approach to resuming activities safely (Phase One - Safe Re-opening (w.e.f 2 June 2020), Phase Two - Safe Transition and Phase Three - Safe Nation). On 24 March 2020, the Ministry of Human Resources (“Ministry”) released its second FAQ on the COVID-19 outbreak (“FAQ”), where it covered the issue of retrenchment of employees. SINGAPORE – Retrenched Singapore Airlines (SIA) staff who started receiving their pink slips from Monday (Sept 14) have been told that they will continue to receive their salary until Dec 15 this year, The Straits Times has learnt. They started handing out pink slips to retrenched staff on 11 Sept, with details on compensation packages. After getting clarification from KPKT, we were informed . Alice*, who has been with the airline for decades, said that she's working reduced hours, but knows of people who took early retirement packages. SIA reported a net loss of S$212 million for the 12 months ending 31 Mar 2020. “The next few weeks will be some of the toughest in the history of the SIA Group as some of our friends and colleagues leave the company. Colleagues gathered for “one last drink” as they waited to see who got the cut. It seems that even as the world is fast approaching vaccination against Covid-19, the coronavirus is still determined to... How to Use “Ok Boomer” in an Office #shorts. Employers have a grace period of one year as of 1 July 2020 within which to ensure More than four months on, the airline industry continues to be in dire straits, with SIA more badly affected than most as it has no domestic routes. They added, “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. SAA begins retrenchment process, nearly 5000 employees to be affected. SIA has said it expects to operate under 50 per cent of its capacity at the end of financial year 2020/21. *At their request, CNA is not using the real names of the SIA staff quoted in this article. June 7, 2020 The Straits Time Singapore Airlines SIA focused on recovery, not retrenchment: CEO Aviation June 4, 2020 The Straits Time Parliament: MPs call for greater support to preserve jobs of older workers Various June 4 Who is eligible. All three staff members CNA spoke to, two of whom are cabin crew and one from SIA headquarters, said that their salaries plunged by about 50 per cent after their work hours were reduced since April. SIA Group said in a statement that the retrenchment exercise will be carried out in a “fair and respectful” manner. Employees who have served the company for at least 2 years are eligible for retrenchment benefits. This year isn't a great year for most people. The airline cut 96 per cent of its capacity. When retrenched, you’ll receive a retrenchment package, but do you know how much tax you’re liable for? SIA CEO Goh Choon Phong Pens Email Explaining Retrenchments. (Photo: SIA) SIA Group said in a statement that the retrenchment exercise will be carried out in a “fair and respectful” manner. Location: Australia. On 24 March 2020, the Ministry of Human Resources (“Ministry”) released its second FAQ on the COVID-19 outbreak (“FAQ”), where it covered the issue of retrenchment of employees. An additional 1,700 have taken jobs in other organisations. The reference to two packages appears to have been a reference to the proposed ordinary retrenchment package and the voluntary separation package. Join Date: Sep 2020. Showering in the Morning vs Evening: Which is Better? In July, SIA reported its largest quarterly loss on record—a whopping $1.12 billion net loss. SIA expects to operate under 50% of its capacity at the end of financial year 2020/21 versus pre-Covid levels. JustMoney looks at how your retrenchment package is taxed. Listen: How to negotiate your retrenchment package Dec 11, 2020 In this podcast, Maya ( @mayaonmoney ) speaks to labour lawyer Michael Bagraims about your rights when it comes to voluntary retrenchment – the benefits you receive, and what rights you give up. Do the maths and you’ll know how badly the company is bleeding. 21 November 2020 Singapore Airlines (SIA) and SilkAir will offer a wider range of main courses on flights under 3.5 hours 1 from 1 December 2020, providing customers with a greater variety of local Singaporean and international favourites on these … Get help early before deciding to retrench 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. In 2003, when the SARS outbreak hit Asia, SIA retrenched hundreds of staff. In August, it suffered a 98.3 per cent year-on-year drop in passenger carriage. Separately, MOM has also issued an Advisory on retrenchment benefits payable to retrenched employees as a result of business difficulties due to COVID-19 on 20 May 2020. SINGAPORE - Retrenched Singapore Airlines (SIA) staff will receive one month of pay for every year of service, capped at 25 months, The Straits Times has learnt. From the outset, our priorities were to ensure our survival and save as many jobs as possible. While she and her colleagues had been expecting the news for some time, with airlines struggling amid the COVID-19 pandemic, it still came as a blow. Retrenchment benefits. This service is not intended for persons residing in the EU. Mr Ng Chee Meng, the man who’s had more headaches recently, has taken to Facebook to express a “deep sense of loss and sadness.”, When I sent off our FlyScoot team who volunteered to bring Singaporeans back from Wuhan earlier this year, there was a…, Posted by Ng Chee Meng 黄志明 on Thursday, 10 September 2020, According to NTUC, the unions have been working closing to avoid a retrenchment for the last six months, but like what NTUC deputy secretary-general Cham Hui Fong said, “Regrettably, these efforts were insufficient to avoid it completely and overcome the severity and prolonged impact of the Covid-19 pandemic.”. In a press statement, SIA said that it had to cut about 4,300 position across its airlines, however, the retrenchment has been “mitigated by a recruitment freeze that was implemented in March 2020, open vacancies that were not While expenses have dropped by 51.6%, the revenue for the group dropped by 79.3%. JustMoney looks at how your retrenchment package is taxed. In July, SIA reported its largest quarterly loss on record—a whopping $1.12 billion net loss. On top of this, each affected employee will […] . In the 4th quarter alone (Jan – Mar 2020), it lost S$732 million. But why not wait for a vaccine before making this drastic decision? 07 July 2020 - 23:16 By TimesLIVE. The retrenchment exercise at SIA, one of the bigger ones by a company in Singapore this year, comes as little surprise as the airline industry battles its biggest crisis yet. Ship finance bounces back after Deutsche Bank retrenchment DB’s industry lending has fallen sharply since the shipping downturn and 18,000 jobs were axed at the bank, but it’s still in the game with a leaner and fitter book, argues its head of transport Eventually we realised this is something that’s in for the long run.”. That everyone was anxious when the SARS outbreak hit Asia, sia reported a net loss of employment means! 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