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. *At their request, CNA is not using the real names of the SIA staff quoted in this article. #shorts, 6 Asian Myths That Aren’t True (Based on Science! In August, it suffered a 98.3 per cent year-on-year drop in passenger carriage. 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. SAA begins retrenchment process, nearly 5000 employees to be affected. In the 4th quarter alone (Jan – Mar 2020), it lost S$732 million. For employees who have seen pay cuts, SIA said that it has also been helping them find temporary job opportunities outside the organisation: "We have waived our exclusive service for cabin crew who wish to take up such jobs. Colleagues gathered for “one last drink” as they waited to see who got the cut. 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. 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. The Protection of Personal Information Act 4 of 2013 (POPI) poses yet another challenge. 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. 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 Employers have a grace period of one year as of 1 July 2020 within which to ensure “It was really a very sad day for all of us, nobody wanted anybody to go.”. Understand how to apply the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment. 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. Of those, the bulk - more than 17,000 - were from Singapore Airlines. After getting clarification from KPKT, we were informed . Employees who have served the company for at least 2 years are eligible for retrenchment benefits. 2,400 SIA staff affected by job cuts amid Covid-19 fallout, Singapore News & Top Stories - The S.pdf (816.3 KB, 99 views) Check out top news from Singapore and around the world. 07 July 2020 - 23:16 By TimesLIVE. SIA has said it expects to operate under 50 per cent of its capacity at the end of financial year 2020/21. They started handing out pink slips to retrenched staff on 11 Sept, with details on compensation packages. Attached Files. We have posted job opportunities on our Employee Support Portal, and placed more than 500 staff thus far.". … A retrenchment package may include any or all of the following, severance pay (cash), gratuity (cash) and other material benefits like motor vehicles, … 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. 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. 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. It looks like the email address you entered is not valid. 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 … 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. Image: Business Day By African News ... "Load factors on the airline have declined steadily from August 2019 to a low of 71 percent in January 2020. of its 27,000-strong workforce have taken no-pay leave. While expenses have dropped by 51.6%, the revenue for the group dropped by 79.3%. 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. Industry groups have forecast that passenger traffic will not return to previous levels until around 2024. JustMoney looks at how your retrenchment package is taxed. 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 … 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).. SIA has said it expects to operate under 50 per cent of its capacity at the end of financial year 2020/21. 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. There are also ground-up initiatives such as Facebook group Cabin Crew United, which was started to support airline crew on furlough or who lost their jobs. “Having to let go of our valuable and dedicated people is the hardest and most agonising decision that I have had to make in my 30 years with SIA. It has also been providing online content, and organised classes and charity drives for migrant workers to help engage its members. "Over the past few months, our focus has been on finding temporary or contract employment for our members who may be displaced. your retrenchment package (usually a few weeks’ pay for every year or service) and retirement fund balance attract tax…The first R500 000 is not taxed, assuming of course that you have not made previous withdrawals. It is a very sad time indeed. BT understands from sources that the number of Singaporeans affected by lay-offs are a … You can make sure that you know your legal rights in terms of what retrenchment benefits are due to you. 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. Posts: 4 SIA RETRENCHMENT. 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. Tip: Be able to pay your debt even when you get retrenched. “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.”. 2020 has given rise to many challenges for employers. Said Jon*: “I’ve been just living on my basic pay because I don't really have a lot of commitments … (thinking) it will last for a couple of months. The retrenchment exercise – which affects about 2,400 staff – is being conducted at the SIA Training Center, near Changi Airport, for Singapore-based staff. (Photo: SIA) (Photo: SIA) SIA Group said in a statement that the retrenchment exercise will be carried out in a “fair and respectful” manner. Location: Australia. But for M1? The retrenchment exercise – which affects about 2,400 staff – is being conducted at the SIA Training Center, near Changi Airport, for Singapore-based staff. 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. In July, SIA reported its largest quarterly loss on record—a whopping $1.12 billion net loss. SIA reported a net loss of S$212 million for the 12 months ending 31 Mar 2020. It is a very sad time indeed. . What is retrenchment? Last year, Lin was flying nearly constantly with seven to 10 flights a month. Showering in the Morning vs Evening: Which is Better? (Photo: SIA) SIA Group said in a statement that the retrenchment exercise will be carried out in a “fair and respectful” manner. Who is eligible. 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. Retrenchment benefits may seem few and far between. 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: 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. 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. . June 8, 2020 October 4, 2020 by BurgieLaw The Government of Malaysia announced yesterday (7.6.2020) the extension of Movement Control Order to 31 August 2020, albeit in a more relaxed environment. In other words, they could’ve retrenched 4,200 people instead. Trainees and non-Singaporeans were among some of the first to be let go, interviewees told CNA. Collectively, SIA, SilkAir and Scoot employed over 21,000 staff at the end of the previous financial year. 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. SIA RETRENCHMENT Unfortunately it has begun . Retrenchment benefits. In part, SIA’s losses also stemmed from the US$638 million in charges it took on failed oil hedges. Industry groups have also forecast that passenger traffic will not return to pre-COVID levels until around 2024. While expenses have dropped by 51.6%, the revenue for the group dropped by 79.3%. 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. 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. 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.”. But why not wait for a vaccine before making this drastic decision? Well, it has begun. The package for the retrenchment of about 9,000 employees … meREWARDS lets you get coupon deals, and earn cashback when you complete surveys, dine, travel and shop with our partners. Created on 20 Nov 2020 7. They will also retain their medical and other benefits until then. SIA has said it expects to operate under 50 per cent of its capacity at the end of financial year 2020/21. Prospective BTO couples... heads up. Here’s the thing: things won’t go back to normal even if a vaccine is developed tomorrow. Copyright© Mediacorp 2020. When retrenched, you’ll receive a retrenchment package, but do you know how much tax you’re liable for? 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 … Voluntary Retrenchment - What is voluntary retrenchment? 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 … The reference to two packages appears to have been a reference to the proposed ordinary retrenchment package and the voluntary separation package. Companies such as Jumbo Group and Etonhouse have already started offering jobs to retrenched SIA employees. Retrenchment benefits are payments given to employees to compensate them for the loss of employment. It has skipped an interim dividend "in view of the significant loss incurred and the need to conserve cash". But both he and Lin said that the company has been “fair” to them so far, given the circumstances. This year isn't a great year for most people. This means a large pay cut as the basic salaries for cabin crew are only a portion of their pay. “I think this is the worst ever, much worse than SARS (Severe Acute Respiratory Syndrome)," she said. 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. 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 - … South Africa is now entering a ‘retrenchment season’ as it grapples with the impact of the coronavirus lockdown, says law firm Cliffe Dekker Hofmeyr. Of those, the bulk - more than 17,000 - … He is now thinking about taking up part-time work so that he can continue saving for the future. 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. The retrenchment also extends to their budget flight alternative, Scoot. As usual, the unions would be working with the affected staff. 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. [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. 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 8. In the 4th quarter alone (Jan – Mar 2020), it lost S$732 million. 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 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. The Receiver of Revenue applies the retirement tax table on retrenchment, i.e. 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. In July, SIA reported its largest quarterly loss on record—a whopping $1.12 billion net loss. Join Date: Sep 2020. 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.”. 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. The MOM has restated that retrenchment should always be considered … "During the exercise, SIA deployed resources from across the company to support the affected staff. ), 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. Industry groups have also forecast that passenger traffic will not return to pre-COVID levels until around 2024. 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. Unemployment is one of the biggest problems in South Africa. 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. 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. This year, she has been called up for one flight a month since April. 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. Today (10 September), during a virtual townhall, staff were told that 2,400 people would be axed. In a communique sent to all group executives on February 6, Eskom said that the window for applications will open in the third week of February 2020, with "employee exits planned for end of April 2020". 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'. In 1796, the British doctor Edward Jenner developed a vaccine to combat the deadly smallpox virus. They will also retain their medical and other benefits until then. SIA expects to operate under 50% of its capacity at the end of financial year 2020/21 versus pre-Covid levels. 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. Given that the road to recovery will be long and fraught with uncertainty, we have to unfortunately implement involuntary staff reduction measures. Created on 19 Nov 2020 8. 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 2003, when the SARS outbreak hit Asia, SIA retrenched hundreds of staff. Mediacorp Pte Ltd. All rights reserved. A spokesman said that these employees will be provided more information in the coming days. The terms of the release package were explained individually to each affected staff," a spokesman said. 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. 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 … 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. SIA crew recount 'sad day' when airline announced retrenchment exercise. THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. Do the maths and you’ll know how badly the company is bleeding. SIA had announced that it would slash about 20 per cent of its headcount - about 4,300 positions - amid the COVID-19 pandemic that has paralyzed the air travel sector. 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. The initial rescue plan proposed cutting SAA jobs from 4,708 to 1,000. 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. “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. 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. 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. JustMoney looks at how your retrenchment package is taxed. Everything has been temporary—but today, the pride of Singapore has taken the drastic action and implemented something permanently: retrenchment. 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”. Eventually we realised this is something that’s in for the long run.”. SIA expects to operate under 50% of its capacity at the end of financial year 2020/21 versus pre-Covid levels. So far, Lin has not received the dreaded retrenchment email, but she said that everyone was anxious when the news broke. The two companies join EtonHouse International Education Group, who recently also pledged jobs to those affected by SIA Group's retrenchment exercise. When retrenched, you’ll receive a retrenchment package, but do you know how much tax you’re liable for? 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. In part, SIA’s losses also stemmed from the US$638 million in charges it took on . 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. SIA reported a net loss of S$212 million for the 12 months ending 31 Mar 2020. You can read this article whereby we simplify everything for you. In 2003, when the SARS outbreak hit Asia, SIA retrenched hundreds of staff. In talks with the department, retrenchment packages offered to workers were sweetened. The group created by airline cabin crew and former crew members has about 1,600 members from SIA, SilkAir, and Scoot. “In order to remain viable in this uncertain landscape, the Group’s airlines will operate a smaller fleet for a reduced network compared to their pre-Covid operations in the coming years.”. The airline cut 96 per cent of its capacity. But not Singapore, because no one takes a plane from Changi Airport to Seletar Airport. 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 By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. An additional 1,700 have taken jobs in other organisations. Created on 20 Nov 2020 7. That was around the time that many countries were putting entry restrictions in place to protect against imported COVID-19 cases. And here’s something interesting: other countries are also encouraging domestic tourisms, which means airlines could still operate within the country. The Ministry of Human Resources has taken The emergence of the Covid-19 pandemic has exacerbated the situation with a lot of companies retrenching their employees. Those with less than 2 years’ service could be granted an ex-gratia payment out of goodwill. 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. From the outset, our priorities were to ensure our survival and save as many jobs as possible. 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. 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. Sep 12, 2020, 5:00 am SGT 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. On top of this, each affected employee will […] 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 Unfortunately it has begun . SIA CEO Goh Choon Phong Pens Email Explaining Retrenchments. This has been a community effort and it has been heartening to see former cabin crew reaching out to their peers on this front,” said Mr Ruben Brandon, a former cabin crew and one of the founders of Cabin Crew United. SIA Group said in a statement that the retrenchment exercise will be carried out in a “fair and respectful” manner. The reference to two packages appears to have been a reference to the proposed ordinary retrenchment package and the voluntary separation package. The retrenchment exercise - which affects about 2,400 staff - is being conducted at the SIA Training Centre, near Changi Airport, for Singapore-based staff. Not Singapore, because sia retrenchment 2020 package one takes a plane from Changi Airport to Seletar Airport for least. This drastic decision %, the British doctor Edward Jenner developed a vaccine is developed...., During a virtual townhall, staff were told that 2,400 people be. Seven to 10 flights a month since April means a large pay as! 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