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
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.
The full quantum of the monthly variable component of salaries …
SEE ALSO
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Inside TSMC chairman Mark Liu's short but impactful reign
CSE Global bags US$36.5 million data centre contract extension
Keppel DC Reit reports 13.7% lower Q1 DPU of S$0.02192 amid loss allowances
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Singapore shares open higher on Friday; STI up 0.2%
TSMC estimates losses of US$92.4 million due to Taiwan earthquake