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Mohd Suhaimi Fariz

Cathay Pacific to sack 600 staff amid major restructure

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The way they're doing it is brutal, unlike MH's layoff.

Be that as it may, but can anyone else afford to handle the layoffs in manner MH did ?

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Yeah, it was a rather brutal redundancy. Perhaps the package was good, since many of those managers are close to retirement.

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CX should follow SQs lead - use KA for narrow body flights and CX for widebody.

Ah maybe then pax will see the difference between CX and KA at KUL ;)

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Be that as it may, but can anyone else afford to handle the layoffs in manner MH did ?

well my company (not a GLC but a top 10 Global Fortune 500 company) did kind a like similar thing

 

Staff were asked to volunteer and many actually got compensation as good as if they continue working till retirement. A person I know actually got 3 years worth of compensation when he only has 2 years to go.

 

Those who were thinking of retiring early held off for half a year and volunteered and got cash bonanza (where I'm located you cannot get lump sum payment from your pensions fund when you retired so this is really huge for them)

 

I would say at the end of the day it depends on the jurisdiction of location where the company is located and the origin of the company. An American company is almost always brutal while those form Europe and Canada are much more compassionate.

 

Cathay om the other hand is a bit of a mix Chinese-UK organization so I have no idea...

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They can't at least give a week's notice?

 

Perhaps the package was good, since many of those managers are close to retirement.

 

from: http://www.scmp.com/news/hong-kong/economy/article/2095127/hong-kongs-cathay-pacific-sack-600-staff-amid-major

Staff let go on Monday will receive a redundancy package of 12 months salary, extended medical benefits and counselling.

 

So, it's slightly better than a week's notice, no ?

 

 

 

well my company (not a GLC but a top 10 Global Fortune 500 company) did kind a like similar thing

I reckon anyone will be hard pressed to find any 'similar' to the MH exercise - parliamentary legislation enacted, flows from Bank of Income Tax, Bank of GST ..... it was novel :)

Sorry, I digress though, this is about CX redundancies :)

Edited by BC Tam

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I reckon anyone will be hard pressed to find any 'similar' to the MH exercise - parliamentary legislation enacted, flows from Bank of Income Tax, Bank of GST ..... it was novel :)

Sorry, I digress though, this is about CX redundancies :)

I would say the US TARP bailouts, UK Bank bailouts post 2008 are quite similar in nature. New laws/acts were passed in parliament/congress to enable tax payer's money to flow to these companies.

 

But I agree, digressing too much as this should be about Cathay

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Sources said the cargo, finance and human resources departments would face job losses later.

Sheesh, can't but feel extra sorry for those in HRD who will be affected

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