View Full Version : SIA wage cuts!
SIA staff bonus based salaries would see wage cuts of 35% to previous years figures. The CEO announced 15% wage cut for himself and 7% for managers.
thegypsy
12th Oct 2001, 02:04
What a magnificent gesture by the CEO of SIA to voluntarily cut his salary by 15%. This has been followed by 300 Managers taking a cut of between 7-10%.
Of course this still leaves him with 85% of a very large salary and as he personally is responsible for losing SIA some 2 BILLION DOLLARS by his irresposible investments in Virgin and Air New Zealand some would say he should lose 100% of his salary.!!!! His gesture is so typical of SIA and even before the 1st half year profits/loss???? are shortly to be announced he is using his personal sacrifice to show the way, What humbug and I hope none of you compliant Singaporeans are going to fall for this one!!!
We are already not going probably to get a bonus which in itself is a paycut and who ever heard of an Airline reducing pay whilst still recruiting pilots!!!
Yes I accept the situation is not good and now is the time for the majority shareholder the GOVERNMENT to make up losses incurred through extra insurance costs and for losses incurred through shutdown of US airspace as all other Governments are doing so that there is a level playing field.
Cathay management have said they have no intention of cutting their salaries at present!!!
Any truth to the rumour that SIA is actually laying off pilots right now? I thought that SIA is still hiring B744 and B777 skippers according to the recent issues of Flight International. :confused: