SIA did not fly. Its pilots and flight crew stayed at home and received the regular salary. They forego the flight allowance. Their take home pay dropped by half, but they still get paid.
SIA now has to reduce its staff expense further. If SIA lays off the staff, it may lose these staff, which has been well trained, when the business returns.
What can SIA do?
This problem does not apply to SIA alone. It applies to many other businesses.
At the start of the crisis, I wrote this article. I suggested that businesses should ask its staff to take no pay leave. If the business drops by 70%, the staff should take no-pay leave for 70%. Their pay will drop by 70%.
How can the staff survive? I suggested that they can take a loan from the government to cover the shortfall. Or, they can withdraw from their CPF savings for up to that amount.
The details of my suggested scheme is explained here.
10 comments:
S$ 1,740,000
NEGOTIABLE
SPECULATOR'S SALE
484 sqft
S$3,595.04 psf
One Holland Village (99 years)
1 Holland Village Way 275754 Tanglin / Holland / Bukit Timah (D10)
Nearby Stations
13 mins (990 m) to TE12 Napier MRT
Raymond Chong
HUTTONS ASIA PTE LTD
CEA: R057119B / L3008899K
+65 9021 6006
We have yet to encounter any policies that do not penalise genuine positions when going against those who abused the system. There is an over-hype on the PAP.
re your comment..."The business has the advantage of keeping the skill and knowledge of these workers during the downturn. It saves them on cost of training new workers"...
it's idealistic, in most circumstances as we are a small red dot, business will hire their own kinds from overseas via that ceca pact
If they keep spending the reserves, taxes will go up considerably to recoup what they spent. Some will not be satisfied, that they did not gain from the handouts. Between rock and hard place. There are good and understanding people around so are the calculative ones. Businesses and people should have money buffer, not spent future money from credit.
In case you don't know, many SIA/Silkair/ Scoot staff signed on to do temp scanning, social distancing ambassador etc. You can see them wearing their SIA polo shirt. They are paid $2.5k for this, on top of their normal basic salary.
Airlines & hotels are 2 industries where govt is paying 75% for their basic pay till end of 2020. F&B is getting 50% from govt.
For flight attendants, their basic salary is low -- they earn $$$thousands more from flying allowances. That's why back in March / April, SIA quickly arrange with NEA, MOM, MOH for their staff to supplement their basic pay.
Some sign on to do swabbing for workers at dorms. They get $3.5+K
So good ah.
For these flight attendants, the $2.5k to $3.8k is peanuts. When they on flight duties, they get $4k to $6k allowances, depending whether regional or long distance flights.
But their starting basic pay is only $1k. That's why SIA & govt step in to offer them this temp jobs after they kena grounded.
Last time said the need to raise GST from 7% to 9% because of money, not enough. Now after spending 90 billion, money enough or not? Some more less take in from workers levy.
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