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. On the eve of a crucial meeting with SAA creditors, the airline’s 617 pilots are vexed by the retrenchment packages they have been offered. 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. SINGAPORE — A number of StarHub staff were left in shock, and tears, at the telco’s headquarters in Ubi this week, as they received news that they had been retrenched from their jobs. … The aviation industry is currently still reeling from the impact of Covid-19, and Singapore Airlines (SIA) is no exception — they announced that they’re letting go of about 2,400 more staff on Monday (14 Sep).. Last year, Lin was flying nearly constantly with seven to 10 flights a month. THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. The department said the retrenchment packages "will be supported by a social plan and skills development programme" for those who lost their jobs. When the employee enters into an agreement with his/her employer to be retrenched, not to claim unfair dismissal and not to claim additional pay, in return for payment of a retrenchment package which includes his/her severance pay, leave, other pay s/he is legally entitled and additional benefits. As usual, the unions would be working with the affected staff. This year, she has been called up for one flight a month since April. SIA crew recount 'sad day' when airline announced retrenchment exercise. When retrenched, you’ll receive a retrenchment package, but do you know how much tax you’re liable for? Four days after the announcement, the layoffs began. They will also retain their medical and other benefits until then. The Receiver of Revenue applies the retirement tax table on retrenchment, i.e. Showering in the Morning vs Evening: Which is Better? The group created by airline cabin crew and former crew members has about 1,600 members from SIA, SilkAir, and Scoot. SIA has said it expects to operate under 50 per cent of its capacity at the end of financial year 2020/21. In July, SIA reported its largest quarterly loss on record—a whopping $1.12 billion net loss. 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. SIA has said it expects to operate under 50 per cent of its capacity at the end of financial year 2020/21. The Protection of Personal Information Act 4 of 2013 (POPI) poses yet another challenge. South Africa is now entering a ‘retrenchment season’ as it grapples with the impact of the coronavirus lockdown, says law firm Cliffe Dekker Hofmeyr. Everything has been temporary—but today, the pride of Singapore has taken the drastic action and implemented something permanently: retrenchment. *At their request, CNA is not using the real names of the SIA staff quoted in this article. In part, SIA’s losses also stemmed from the US$638 million in charges it took on . 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. Of those, the bulk - more than 17,000 - … READ: Singapore Airlines Group to cut about 4,300 positions as COVID-19 batters aviation industry, READ: SIA Group passenger carriage down 98.3% in August, some flights suspended due to COVID-19, READ: Retrenchments in Singapore spike in first half of the year, surpassing SARS peak: MOM, READ: More job losses expected for Singapore Airlines, say industry watchers, READ: Retrenched SIA Group staff offered more than 200 jobs by EtonHouse, Jumbo Group and Commonwealth Capital, LISTEN: Rethinking the role of national carriers while saving Singapore Airlines. 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”. Furthermore, the retrenchment exercise which cut 2,000 jobs cost the group S$42 million, SIA disclosed for the first time since its announcement on the axe falling. Trainees and non-Singaporeans were among some of the first to be let go, interviewees told CNA. This is not a reflection of the strengths and capabilities of those who will be affected, but the result of an unprecedented global crisis that has engulfed the airline industry. SINGAPORE — A number of StarHub staff were left in shock, and tears, at the telco’s headquarters in Ubi this week, as they received news that they had been retrenched from their jobs. Last week, Singapore’s national carrier said that about 2,400 employees would be affected by job cuts, while another 1,900 positions are being eliminated by measures such as a recruitment freeze and early retirement schemes. Understand how to apply the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment. Julia Yeo | … SIA has said it expects to operate under 50 per cent of its capacity at the end of financial year 2020/21. In July, SIA reported its largest quarterly loss on record—a whopping $1.12 billion net loss. By African News ... "Load factors on the airline have declined steadily from August 2019 to a low of 71 percent in January 2020. It is a very sad time indeed. Today (10 September), during a virtual townhall, staff were told that 2,400 people would be axed. Given that the road to recovery will be long and fraught with uncertainty, we have to unfortunately implement involuntary staff reduction measures. 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. 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. 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 SIA expects to operate under 50% of its capacity at the end of financial year 2020/21 versus pre-Covid levels. . In 2003, when the SARS outbreak hit Asia, SIA retrenched hundreds of staff. The airline cut 96 per cent of its capacity. 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). JustMoney looks at how your retrenchment package is taxed. 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. [8] Telkom interpreted the letter as being the first sign that the Alliance intended delaying the consultation process because it requested further information despite what Telkom had provided to the unions prior to and at their first meeting. South Africa is now entering a ‘retrenchment season’ as it grapples with the impact of the coronavirus lockdown, says law firm Cliffe Dekker Hofmeyr. This service is not intended for persons residing in the EU. 07 July 2020 - 23:16 By TimesLIVE About 2,700 SAA workers will lose their jobs as part of a voluntary severance deal, according to the public enterprises department. Of those, the bulk - more than 17,000 - were from Singapore Airlines. Mediacorp Pte Ltd. All rights reserved. Follow the latest news on retrenchment at TODAYonline. In part, SIA’s losses also stemmed from the US$638 million in charges it took on failed oil hedges. While expenses have dropped by 51.6%, the revenue for the group dropped by 79.3%. 2,400 SIA staff affected by job cuts amid Covid-19 fallout, Singapore News & Top Stories - The S.pdf (816.3 KB, 99 views) Created on 20 Nov 2020 7. 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 SIA Group said in their media release, “The Singapore Airlines (SIA) Group today announced the difficult decision to cut around 4,300 positions across its airlines. Five myths about payroll tax deductions (Editor's Pick) ... a retrenchment package, might not be taxed on the payroll because there is a once-off R500 000 lifetime exemption for lumpsum payments in respect of retrenchment, retirement or death. Unemployment is one of the biggest problems in South Africa. Industry groups have also forecast that passenger traffic will not return to pre-COVID levels until around 2024. He is now thinking about taking up part-time work so that he can continue saving for the future. Retrenchment benefits. They will also retain their medical and other benefits until then. What is retrenchment? 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. You can make sure that you know your legal rights in terms of what retrenchment benefits are due to you. Those with less than 2 years’ service could be granted an ex-gratia payment out of goodwill. 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 The reference to two packages appears to have been a reference to the proposed ordinary retrenchment package and the voluntary separation package. After getting clarification from KPKT, we were informed . The reference to two packages appears to have been a reference to the proposed ordinary retrenchment package and the voluntary separation package. Copyright© Mediacorp 2020. When retrenched, you’ll receive a retrenchment package, but do you know how much tax you’re liable for? The retrenchment exercise – which affects about 2,400 staff – is being conducted at the SIA Training Center, near Changi Airport, for Singapore-based staff. More cases of disguised retrenchments – workers getting laid off without their employers treating it as a retrenchment to avoid paying a fair package – are surfacing. Well, it has begun. After taking into account a recruitment freeze, natural attrition and the take-up of voluntary departure schemes, the potential number of staff impacted will be reduced to about 2,400 in Singapore and in overseas stations. SIA Group, which comprises more than 20 subsidiaries like Scoot and SilkAir, hasn’t had a retrenchment exercise: there were pay cuts and over 6,000 employees of its 27,000-strong workforce have taken no-pay leave. “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. Check out top news from Singapore and around the world. 07 July 2020 - 23:16 By TimesLIVE. But not Singapore, because no one takes a plane from Changi Airport to Seletar Airport. Location: Australia. SIA RETRENCHMENT Unfortunately it has begun . Companies such as Jumbo Group and Etonhouse have already started offering jobs to retrenched SIA employees. That was around the time that many countries were putting entry restrictions in place to protect against imported COVID-19 cases. The package for the retrenchment of about 9,000 employees … She knows of colleagues who have had to take part-time jobs to get by, but decided to tighten her belt for now while she waits out this unprecedented crisis in the airline’s 48 year history. Employees who have served the company for at least 2 years are eligible for retrenchment benefits. 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. We will conduct this process in a fair and respectful manner, and do our best to ensure that they receive all the necessary support during this very trying time.”. The Ministry of Human Resources has taken JustMoney looks at how your retrenchment package is taxed. 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 … The retrenchment exercise – which affects about 2,400 staff – is being conducted at the SIA Training Center, near Changi Airport, for Singapore-based staff. Unfortunately it has begun . It has skipped an interim dividend "in view of the significant loss incurred and the need to conserve cash". In the 4th quarter alone (Jan – Mar 2020), it lost S$732 million. (Photo: SIA) SIA Group said in a statement that the retrenchment exercise will be carried out in a “fair and respectful” manner. “It was really a very sad day for all of us, nobody wanted anybody to go.”. Eventually we realised this is something that’s in for the long run.”. Attached Files. SIA reported a net loss of S$212 million for the 12 months ending 31 Mar 2020. The terms of the release package were explained individually to each affected staff," a spokesman said. Created on 20 Nov 2020 7. 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.”. SINGAPORE: When flight attendant Lin* heard the news that more than 4,000 positions were to be cut in the Singapore Airlines (SIA) Group, her heart sank. 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. Do the maths and you’ll know how badly the company is bleeding. [8] Telkom interpreted the letter as being the first sign that the Alliance intended delaying the consultation process because it requested further information despite what Telkom had provided to the unions prior to and at their first meeting. 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. HDB Planning to Launch 17K BTO Flats in 2021 & Some Are in Mature... M1 Users Reported Disruption This Morning; 2nd Time in This Month, Everything About the Thailand COVID-19 Sudden Outbreak That Involved Migrant Workers. 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 … Collectively, SIA, SilkAir and Scoot employed over 21,000 staff at the end of the previous financial year. Prospective BTO couples... heads up. Industry groups have also forecast that passenger traffic will not return to pre-COVID levels until around 2024. Retrenchment benefits may seem few and far between. 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 has said it expects to operate under 50 per cent of its capacity at the end of financial year 2020/21. A retrenchment package may include any or all of the following, severance pay (cash), gratuity (cash) and other material benefits like motor vehicles, … "During the exercise, SIA deployed resources from across the company to support the affected staff. It has also been providing online content, and organised classes and charity drives for migrant workers to help engage its members. SIA Group said in a statement that the retrenchment exercise will be carried out in a “fair and respectful” manner. 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. A spokesman said that these employees will be provided more information in the coming days. Tip: Be able to pay your debt even when you get retrenched. ), When You Exercise & Eat at the Same Time #shorts, 10 COVID-19 Cases Today (21 Dec); 1 Case in the Community, Here’s How the 3 Main COVID-19 Vaccines Work Simplified for You. Join Date: Sep 2020. “I think this is the worst ever, much worse than SARS (Severe Acute Respiratory Syndrome)," she said. SAA begins retrenchment process, nearly 5000 employees to be affected. Be sure to structure your final severance package optimally in terms of income tax and also ongoing personal issues such as life cover and medical aid. They started handing out pink slips to retrenched staff on 11 Sept, with details on compensation packages. SAA begins retrenchment process, nearly 5000 employees to be affected By African News Agency Mar 9, 2020 Share this article: Share Tweet Share Share Share Email Share Cape Town - … 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. An additional 1,700 have taken jobs in other organisations. And here’s something interesting: other countries are also encouraging domestic tourisms, which means airlines could still operate within the country. 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. Posts: 4 SIA RETRENCHMENT. In the 4th quarter alone (Jan – Mar 2020), it lost S$732 million. The emergence of the Covid-19 pandemic has exacerbated the situation with a lot of companies retrenching their employees. This means a large pay cut as the basic salaries for cabin crew are only a portion of their pay. “This decision was taken in 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.”. of its 27,000-strong workforce have taken no-pay leave. It’s a bit chim to explain the rationale behind that, so just remember this: even if COVID-19 is completely defeated by the end of this year, fewer people are going to travel next year. The Ministry of Human Resources has taken the position that retrenchment of employees is the prerogative of the employer, but employers should ensure that they comply with these 3 basic requirements: Retrenchment benefits are payments given to employees to compensate them for the loss of employment. 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. On top of this, each affected employee will […] October 14, 2020 December 16, 2020 (Updated on 17.10.2020 @ 930am) Many questions were posed as to which SOP a strata scheme should be adhering to. Affected staff will receive salaries in place of their notice period, and those with the airline for more than two years will get an additional … The initial rescue plan proposed cutting SAA jobs from 4,708 to 1,000. SIA CEO Goh Choon Phong Pens Email Explaining Retrenchments. Created on 19 Nov 2020 8. SIA Engineering joint venture reportedly retrenched 144 employees within 3 days in July Some retrenched employees said that many veteran workers were also laid off. Industry groups have forecast that passenger traffic will not return to previous levels until around 2024. In other words, they could’ve retrenched 4,200 people instead. The retrenchment exercise - which affects about 2,400 staff - is being conducted at the SIA Training Centre, near Changi Airport, for Singapore-based staff. The retrenchment also extends to their budget flight alternative, Scoot. The package for the retrenchment of 9,000 employees was given the go-ahead in August. SIA reported a net loss of S$212 million for the 12 months ending 31 Mar 2020. Colleagues gathered for “one last drink” as they waited to see who got the cut. Affected staff will receive salaries in place of their notice period, and those with the airline for more than two years will get an additional month’s pay for each year of service, capped at 25 months. The two companies join EtonHouse International Education Group, who recently also pledged jobs to those affected by SIA Group's retrenchment exercise. While expenses have dropped by 51.6%, the revenue for the group dropped by 79.3%. It looks like the email address you entered is not valid. "Over the past few months, our focus has been on finding temporary or contract employment for our members who may be displaced. . meREWARDS lets you get coupon deals, and earn cashback when you complete surveys, dine, travel and shop with our partners. 2020 has given rise to many challenges for employers. Cash-strapped Eskom will start offering a voluntary retrenchment package to managers in non-core operations, as well as employees over the age of 60 across the group. In August, it suffered a 98.3 per cent year-on-year drop in passenger carriage. *At their request, CNA is not using the real names of the SIA staff quoted in this article. But why not wait for a vaccine before making this drastic decision? In 2003, when the SARS outbreak hit Asia, SIA retrenched hundreds of staff. SIA expects to operate under 50% of its capacity at the end of financial year 2020/21 versus pre-Covid levels. Singapore Airlines Chief Executive Officer Goh Choon Phong said: “When the battle against Covid-19 began early this year, none of us could have predicted its devastating impact on the global aviation industry. 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. On top of that, there is a variable component and allowances tied to the number of hours they fly. 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. But for M1? A retrenchment package could include: - 3 Months Notice Pay - Severage Package - Service Allowance - Relocation Allowance - Medical Aid for 3 - 6 Months - Purchase of assets at book value TAXATION Tax concessions apply to retrenchment amounts received - See FAQ Topic 'Tax - Retrenchment'. 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