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Cathay Pacific ‘to axe 6,000 staff and Dragon brand’ in bid to stay afloat

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Cathay Pacific ‘to axe 6,000 staff and Dragon brand’ in bid to stay afloat

Old 25th Oct 2020, 04:44
  #141 (permalink)  
 
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Originally Posted by AllWobbly
Singapore is starting to look like a better place to be.
Every banker and venture capitalist is thinking the exact same thing. If you want to be in China, go to China. If you want to be outside China, Hong Kong can no longer help you.
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Old 25th Oct 2020, 05:35
  #142 (permalink)  
 
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Singapore is starting to look like a better place to be.
every venture capalist lookin at Singapore?

Not so fast read what happened to James Dyson.Came into Singapore with fanfare to open electric car factory.Now cancelled and sold his penthouse at 13% lost.'Dyson kills Singapore electric car project with closure of auto division"
"Vacuum cleaner billionaire James Dyson sold Singapore's most expensive penthouse for $47 million — that's $7 million less than what he paid for it a year ago"
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Old 25th Oct 2020, 06:28
  #143 (permalink)  
 
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for those who think Singapore will be better than HK.... please wake up. try it for yourself if you dare. its about time CX pilots look outside and compare their salaries. still way higher and better than others. i hope nobody will sign the new terms but in reality it will be high percentage ppl are signing.
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Old 25th Oct 2020, 06:28
  #144 (permalink)  
 
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The grass is definitely not greener in the 'Garden City'. SQ got rid of a handful of non-PR pilots. No LIFO. Meanwhile everyone else takes a temporary pay cut to save themselves. 'Union' not a word for the non-PRs who lost their jobs.

As for Singapore, they are a nationalistic xenophobic nation with more CANNOTS than HK.
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Old 25th Oct 2020, 07:06
  #145 (permalink)  
 
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As for Singapore, they are a nationalistic xenophobic nation with more CANNOTS than HK.
you know Lion city very well.

Outsiders will do well not to believe the shiny brochures.. Caveat Emptor
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Old 25th Oct 2020, 10:58
  #146 (permalink)  
 
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You have to hand it to the DFO. He has achieved what his predecessors could only ever dream of. A frightened, compliant flight crew, queuing up to sign over to permanently worse conditions. S/O's and F/O's can now look forward to a 'competitive' 2 point pay scale for the next decade or two. At least he cannot use the old ' but you get an annual increment …' excuse when refusing your next rise.

Here's to your bonus Chris....Its gonna be a whooper!!!
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Old 25th Oct 2020, 14:58
  #147 (permalink)  
 
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Devil "management:

I used lower case M when I wrote management for a reason ! CC was chosen as DFO for a reason, he was the most pliable sycophant they could find.. Also had picked were the other row of fools on the 3rd fl following the last "Project Altitude" and all for the same reason. That organisational structure, BTW, designed by the wife of one of the "management team" ...
They all would have been actively involved in this pathetic excuse of a "solution" and reveling in the dopamine and adrenaline of its implementation... It's a POWER thing.

All will suffer drastically in this endeavour EXCEPT them.. If they tell you different - they are the Devil incarnate and will suffer when their time comes👹

Last edited by Flex88; 25th Oct 2020 at 19:46.
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Old 25th Oct 2020, 15:33
  #148 (permalink)  
 
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Question from an outsider: if you are a 10 year FO and you refuse to sign. What will be your severance pay roughly?
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Old 25th Oct 2020, 16:50
  #149 (permalink)  
 
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I believe it would be three months basic salary, but am open to being corrected on that.
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Old 25th Oct 2020, 18:22
  #150 (permalink)  
 
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that’s ridiculous!
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Old 25th Oct 2020, 18:59
  #151 (permalink)  
 
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Welcome to Hong Kong labor standards.
Three months notice or pay in lieu - no cause is required other than employer whim.
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Old 25th Oct 2020, 23:09
  #152 (permalink)  
 
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Better than the UK. Legal redundancy payout for someone at the age of 40 with 10 years would be 10 weeks, but capped at 538 pounds a week, so 5,380. Higher if you are older.
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Old 26th Oct 2020, 02:20
  #153 (permalink)  
 
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https://www.malaymail.com/news/money...says-u/1915583
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Old 26th Oct 2020, 03:01
  #154 (permalink)  
 
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what the news did not mentioned was the lower contract pays still way above industry standard. look around you. news media always one sided story
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Old 26th Oct 2020, 03:24
  #155 (permalink)  
 
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When you factor in the real cost of living in HK, the new contract is not sustainable (especially if you have a family). Maybe in Taiwan it would work, but not here. Take note, thank you.
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Old 26th Oct 2020, 03:24
  #156 (permalink)  
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icemankk2001

And that makes it ok?
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Old 26th Oct 2020, 04:23
  #157 (permalink)  
 
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Wrong! With the new contract, a senior captain at CX now earns less than a senior FO in the Sandpit.
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Old 26th Oct 2020, 04:33
  #158 (permalink)  
 
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Wrong! With the new contract, a senior captain at CX now earns less than a JUNIOR FO in the Sandpit. No tax remember. Also better health care. 100% schooling paid for. Housing cheaper. Should I go on?
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Old 26th Oct 2020, 04:43
  #159 (permalink)  
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FO friends in the desert are on base of about 30,000aed++. So 63k HKD and if they are lucky to fly maybe some extra money on the side. Housing is no longer a cash hand out. Even singles have been forced into villas. That is more like JFO pay on COS18.
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Old 26th Oct 2020, 05:11
  #160 (permalink)  
 
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Originally Posted by Curry Lamb
Wrong! With the new contract, a senior captain at CX now earns less than a senior FO in the Sandpit.
this really shows CX pilots are enjoying their heavenly perks. please come back to earth. thanks. anyway I do hope majority of CX pilots not sign the new COS. bring CX to court please. fight till the end.... lets see who will lose more.
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