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Pay cuts for SIA management, CEO

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From Channelnewsasia:

 

Pay cuts for SIA management, CEO

 

SINGAPORE - All management staff in Singapore Airlines (SIA) will from July take a salary cut of at least 10 per cent, including its chief executive, who will take a 20 per cent cut.

 

SIA also said on Friday that it had signed an agreement with pilots under which they will take one-day unpaid leave each month, and a cut of 65 per cent of one day's pay.

 

"The airline has surplus pilot resources because of the cutback in flights following the sharp fall in demand for air travel," it said in a statement.

 

The agreement is the latest in a series of cost-cutting measures by SIA.

 

The airline expects to save S$21 million in the current fiscal year from the cost-cutting measures, which also include a cut in fee for directors and a voluntary no-pay leave scheme to all employees.

 

Earlier this year, the company said it would decommission 16 aircraft and cut capacity in the current financial year ending March 2010 by 11 per cent as the global recession crimps demand for travel.

 

- CNA/ir

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They should'd done it long time ago...airlines in far east asia such as EVA, ANA did this since Nov 2008 with as much as 30% pay cuts from manager levels upward to CEO.

 

Also, they introduced more drastic measures such as compulsory 1 day unpaid leave per week, froze hiring, cut non-essential benefits such as dental, laundry allowance, etc.

 

Cost-saving efforts continued to operational aspects too..such as reducing a/c overall weight to save on aviation fuel costs. JAL reduced spoon size, replaced plastic tray covers for cling film, no more inflight magazine for each seat, removed personal AVOD from each seats.

 

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They should'd done it long time ago...airlines in far east asia such as EVA, ANA did this since Nov 2008 with as much as 30% pay cuts from manager levels upward to CEO.

 

Also, they introduced more drastic measures such as compulsory 1 day unpaid leave per week, froze hiring, cut non-essential benefits such as dental, laundry allowance, etc.

 

Cost-saving efforts continued to operational aspects too..such as reducing a/c overall weight to save on aviation fuel costs. JAL reduced spoon size, replaced plastic tray covers for cling film, no more inflight magazine for each seat, removed personal AVOD from each seats.

 

if remove personal avods, then have to stick up at big LCD screen for all to view :yahoo:

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Does management staff include office staff? 10% pay cut is a lot, if the entire family feeds on the salary. As for the CEO, I think he is still better off after the 20% pay cut, taking into consideration other source of income (share holdings etc).

 

What's everyone else's thought on paycut - if it does happen?

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Pay cut means no new body or lens purchase for me this year (not that I have anything in mind). In fact I had nothing new since last year. Kiss my fisheye dream goodbye. By the way, CEO and Management level can declare how much of pay cut as they are taking. But when the time comes when bonuses are announced, they will take back whatever they have loss. Mere mortals like all of us will still sulk at our lost pay forever. At least the only scant consolation is I have the comfort of knowing my job and monthly pay is still secured.

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..... MAS guys not spared either .....

Tar-dah lah ;)

 

No pay cuts for MAS yet

By Lee Wei Lian

 

PETALING JAYA, June 22 — Malaysia Airlines will not make a decision on staff pay cuts until after the next board meeting in July.

 

Several major airlines such as Singapore Airlines and British Airways have asked their staff to take a pay cut to reduce costs in the face of a tough operating environment.

 

Malaysia Airlines chairman Tan Sri Dr Munir Majid said the company does not want to rush into a decision and the pay cut may not take the form of salary reductions but could be from other forms of compensation.

 

“We want it to be a thoroughly considered decision,” he told reporters after the company’s AGM this morning. He also said that there is currently no proposal for any lay-offs.

 

.......

 

read in full here

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At least the only scant consolation is I have the comfort of knowing my job and monthly pay is still secured.

 

That's most of the people pray for these days.

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I am still doing 80 hours + 11 days off average per month since October 2008.

 

Yes LeeCH..

end of the month, i still see my roster is out = still can fly = still have a job.

I heard in MH.."maybe" pay cut...

Prepared for this to happen long time ago.

 

 

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