Revealed: The one skill HR needs skill to survive 2021. Singapore WITH the Covid-19 outbreak hobbling travel demand, Singapore Airlines (SIA) will be cutting salaries of senior management by 10 to 15 per cent starting March 1, and offering a voluntary no-pay leave scheme to employees. American’s Mr. Parker has been paid only in stock since 2015. Chief Executive Officer Goh Choon Phong will lead the way with a 15 per cent cut from 1 March, a spokesperson from SIA said in an email reply to Yahoo Finance Singapore on Friday (28 February). SIA cuts staff salaries by 10% Singapore Airlines (SIA) is cutting pay for employees, managers and bosses, a memo by chief executive officer (CEO) Goh Choon Phong to … Senior vice-presidents will get a 25 per cent cut, up from 20 per cent, and executive vice-presidents will get 30 per cent cut, up from 25 per cent. From March 1, Singapore Airlines ’s (SIA) executives will be given a pay cut between 10% to 15%. Mandy Ng Kit-man, the airlines’ CEO, will take a 15% pay cut through 2021, while director-level management will take a reduction of the same percentage for the first six months of the next year. In a media statement, SIA said over recent weeks it had “aggressively” cut flights, capital spending and operating costs and was now reducing manpower costs “during this difficult time”. SINGAPORE Airlines (SIA) has implemented more measures to slash costs, including bigger pay cuts for the bosses, a 10 per cent salary reduction for … In an employee email, chief executive Goh Choon Phong said he will take a 15% pay cut. SINGAPORE Airlines (SIA) has implemented more measures to slash costs, including bigger pay cuts for the bosses, a 10 per cent salary reduction for … 50 companies with the best workplace culture, Coronavirus: MOM warns against forcing staff to take no-pay leave. Executive vice presidents and senior vice presidents will take pay cuts of between 10 per cent and 15 per cent, … From March 1, Singapore Airlines’s (SIA) executives will be given a pay cut between 10% to 15%. Fun Friday: Is Christmas ‘cancelled’ this year? Our daily newsletter is FREE and keeps you up-to-date with the world of HR. Goh Choon Phong, the Chief Executive, Singapore Airlines, will also be taking a 15 percent pay cut. READ: Singapore Airlines Group to retrench about 4,300 employees. Meanwhile, it was announced last month that SIA Chief Executive Officer Goh Choon Phong said he would took a 15 per cent pay cut starting 1 March this month (‘SIA CEO announces 15% pay cut for himself; he earns $1.4m in salary with total package $5.5m last FY‘). The measure is part of wider efforts to help the airline cope with the ongoing COVID-19 outbreak. Singapore Airlines (SIA) Chief Executive Officer, Goh Choon Phong announced yesterday (28 Feb) that the management of SIA will be taking a pay cut effective 1 March. Mr Joyce's $3.3 million pay will be cut by at least 38 per cent this financial year because of the airline's poor performance - which would leave him with a $2 million pay packet. Gary Kelly, the CEO of Southwest Airlines, announced that he will voluntarily take a 10% pay cut in response to the dramatic drop in air travel. MOH confirms 19 new cases of COVID-19; Total tally at 58,422. Coronavirus: SIA cuts pay for senior staff, with CEO Goh Choon Phong leading the way with a 15% cut Singapore Airlines chief executive Goh Choon Phong said in a … The executive vice presidents will be taking a 12 percent cut while the senior vice president level employees will take a 10 percent cut, according to the Business Times. According to SIA Annual Report FY2018/19, while Goh earned $1.4 million in salary or about $116K a month, his total package amounted to some $5.5 million in the last FY after including bonuses, shares and benefits. Mr Joyce's $3.3 million pay will be cut by at least 38 per cent this financial year because of the airline's poor performance - which would leave him with a $2 million pay packet. The Coronavirus crisis has crippled travel and airline industries across the world. Singapore Airlines has implemented a top-down pay cut. Singapore Airlines CEO Takes 15% Pay Cut - One Mile at a Time It’s always nice to see airline executives leading by example. “The union has negotiated with the company to allow crew to seek part-time work outside the company for the time being. Once your account is created, you'll be logged-in to this account. But they would need to seek approval first.”. Please enter your username or email address to reset your password. The President has the power to convene a COI on the justice system - but will she? Alan Tan, president of the Singapore Airlines Staff Union, told the media that at least 4,000 cabin crew members had applied for voluntary no-pay leave by this week. Singapore Airlines Ltd. Chief Executive Officer Chew Choon Seng, who took a pay cut while maintaining the carrier’s wine budget during the recession, samples economy-class … Qantas services to London will also be re-routed, flying via Perth instead of Singapore and eight of the airline’s A380s will be grounded leaving only two in service. He added that executive vice presidents will take a 12% cut, while senior vice presidents, 10%. The pay cut was on top of a 10 per cent reduction in the monthly variable component (MVC) of their wages, according to straitstimes.com. This follows the hiring freeze for ‘ground positions’ announced earlier last week. PM Lee: Singapore to move into 'phase 3' of pandemic. Singapore Airlines Image Credit: The Telegraph. Mandy Ng Kit-man, the airlines’ CEO, will take a 15% pay cut through 2021, while director-level management will take a reduction of the same percentage for the first six months of the next year. The chief executive of Singapore Airlines will take a 20 percent pay cut as the carrier looks to cut costs after seeing profits battered by weak travel demand and volatile oil prices. United isn’t the only carrier with executives overhauling salaries to help the brand, as Southwest Airlines CEO Gary Kelly said he would take a 10-percent pay cut amid an "alarming" drop in bookings caused by the spread of coronavirus. What changed? Gary Kelly, the CEO of Southwest Airlines has said he will take a 10% pay cut. Jazeera Airways CEO Rohit Ramachandran: The airline’s CEO isn’t receiving a salary at all while the airline’s entire management team has taken a 50% pay cut since February. SINGAPORE Airlines (SIA) has implemented more measures to slash costs, including bigger pay cuts for the bosses, a 10 per cent salary reduction for other employees, and early retirement for pilots and ground staff, The Business Times understands. Last Thursday (26 Mar), Singapore Airlines (SIA) announced that it had secured up to S$19 billion of funding with the majority coming from Temasek Holdings, to help see it through the coronavirus crisis as demands for air travel dipped. For just $10 a month or $100 a year, please consider. All rights reserved under The Online Citizen Pte Ltd. "The velocity and the severity of the decline is breathtaking," Kelly told employees in a video message. SIA has indicated that it is cutting 96 per cent of its scheduled capacity until the end of next month and grounding 138 out of 147 SIA and SilkAir aircraft. But with the announcement of Temasek bailing out SIA with a generous S$15 billion package, Goh now said he will take a 30 per cent pay cut starting from this Wed (1 Apr). Vistara CEO says no layoffs; salary cuts to be reviewed in January 2021 Internet user base rises 3.4% to 743 million at March-end; Jio commands over 52% market: Trai data Beginning Oct 1, … When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. MAG, holding company of He will take a 30 percent cut to his base salary from April to December, as will Chairman Patrick Healy, with executive directors taking a 25 percent cut, the memo said. Other leaders will be given pay cuts in the coming months: SIA’s board of directors “have also decided” to take a 15% cut in their fees to “show solidarity” with the management and staff, according to the note seen by The Straits Times. 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