SIA takes further action to cut costs, including early retirement scheme
Not all staff unions are on board; Alpa-S says it is not agreeable
Fiona Lam &
Claudia Tan HS
Singapore
SINGAPORE Airlines (SIA) has implemented more measures to slash costs after posting a record quarterly loss, including deeper pay cuts for the bosses, a 10 per cent salary reduction for other employees, and early retirement for pilots and ground staff, according to a memo to staff seen by The Business Times.
Additional staff measures are also coming, given the slower growth trajectory and depressed market conditions. Chief executive officer (CEO) Goh Choon Phong said SIA will be engaging its staff unions on this matter, and will announce the measures when they have been firmed up.
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