From Mar 1, senior management figures will take a 10 to 15 per cent reduction in their salary, including SIA CEO Goh Choon Phong, who will take a … Gary Kelly, the CEO of Southwest Airlines has said he will take a 10% pay cut. The carrier's chief executive has also taken a pay cut as it braces for a greater-than-expected hit from virus-related closures and travel bans that are hurting the wider aviation industry. Singapore Airlines has implemented a top-down pay cut. The city-state’s flag carrier and the Air Line Pilots Association - Singapore reached the agreement Friday and the company will implement the measures for all remaining pilots in Singapore Airlines and SilkAir with effect from Oct. 1. Chief Executive Officer Goh Choon Phong will lead the way with a 15 per cent cut from 1 March, a spokesperson from SIA said in an email reply to Yahoo Finance Singapore on Friday (28 February). The President has the power to convene a COI on the justice system - but will she? Qantas CEO Joyce's pay falls 83% because of coronavirus pandemic ... Qantas' rivals Singapore Airlines and Cathay Pacific Airways have also announced salary cuts for senior leaders. "The velocity and the severity of the decline is breathtaking," Kelly told employees in a video message. Our daily newsletter is FREE and keeps you up-to-date with the world of HR. Even with a salary cut of 30 per cent, his new salary will amount to close to $1 million, not including bonuses, shares and benefits. Starting on March 16, Mr. Brett Hart waived 50% of his base salary in his role as the Company’s Executive Vice President and Chief Administrative Officer and, in connection with his transition to the position of President, has waived 100% of his base salary from May 20, 2020, through the end of the year. Please enter your username or email address to reset your password. The executive vice presidents will be taking a 12 percent cut while the senior vice president level employees will take a 10 percent cut, according to the Business Times. ... Its chief executive officer will take a 25 per cent pay cut, up from 12 per cent previously, while the executive vice-president’s grows from 10 per cent to 20 per cent. SIA CEO announces 15% pay cut for himself; he earns $1.4m in salary with total package $5.5m last FY. It was reported in the media last Friday that many air crew have been forced to turn to gig and part-time work as they see their salaries slashed by huge amount (‘Airline staff among the hardest hit by outbreak‘, 27 Mar). SIA has indicated that it is cutting 96 per cent of its scheduled capacity until the end of next month and grounding 138 out of 147 SIA and SilkAir aircraft. In the meantime, it looks like the 27-year-old SIA flight attendant will soon be fulfilling his dream working as a GrabFood delivery rider. CEO Chew Choon Seng’s management will also see cuts of between 10 and 20 percent from July, while the directors have volunteered for a cut in fees of 20 percent. The Hong Kong airline’s CEO and chairman will take home 30 percent less pay as the company faces the virus fallout. With the travel and aviation industry taking the most hit from COVID-19, Singapore Airlines (SIA) and SilkAir were made to cut costs too. Without that, many are getting a basic monthly salary of about $1,300 to $1,500,” he revealed. United, American, Delta and Southwest airlines have been forced to cut tens of thousands of flights from their schedule next month as the coronavirus pandemic continues to cripple the industry. Mr Joyce's $3.3 million pay will be cut by at least 38 per cent this financial year because of the airline's poor performance - which would leave him with a $2 million pay packet. But with the announcement of Temasek bailing out SIA with a generous S$15 billion package, Goh now said he will take a 30 per cent pay cut starting from this Wed (1 Apr). The measure is part of wider efforts to help the airline cope with the ongoing COVID-19 outbreak. In an employee email, chief executive Goh Choon Phong said he will take a 15% pay cut. From April 1, divisional vice presidents and vice presidents will take a 7% cut, From May 1, senior managers and managers will take a 5% cut. American’s Mr. Parker has been paid only in stock since 2015. Senior vice-presidents, vice-presidents and senior managers will have their pay cuts increased from 8 per cent, 7 per cent and 5 per cent respectively, to 15 per cent, 12 per cent and 10 per cent on 1 May. Mr Joyce's $3.3 million pay will be cut by at least 38 per cent this financial year because of the airline's poor performance - which would leave him with a $2 million pay packet. American’s Mr. Parker has been paid only in stock since 2015. SIA CEO got $5.5 million in total last FY Meanwhile, it was announced last month that SIA Chief Executive Officer Goh Choon Phong said he would took a 15 per cent pay cut starting 1 March this month (‘ SIA CEO announces 15% pay cut for himself; he earns $1.4m in … Please complete the form below and click on subscribe for daily newsletters from HRD Asia. When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. Chief executive officer (CEO) Goh Choon Phong will take the lead, with a 15 per cent cut, effective from March 1, it said. CEO Goh Choon Phong will take a 15 per cent cut, while the board of … “The union has negotiated with the company to allow crew to seek part-time work outside the company for the time being. Meanwhile, it was announced last month that SIA Chief Executive Officer Goh Choon Phong said he would took a 15 per cent pay cut starting 1 March this month (‘SIA CEO announces 15% pay cut for himself; he earns $1.4m in salary with total package $5.5m last FY‘). Qantas CEO Alan Joyce: Joyce will take none of his AU$23m ($15.5m) salary for the rest of the year. “We will continue to be proactive in implementing measures to meet the evolving challenges,” he wrote in the note. Singapore Airlines Image Credit: The Telegraph. Alan Tan, president of the Singapore Airlines Staff Union, told the media that at least 4,000 cabin crew members had applied for voluntary no-pay leave by this week. Singapore WITH the Covid-19 outbreak hobbling travel demand, Singapore Airlines (SIA) will be cutting salaries of senior management by 10 to 15 per cent starting March 1, and offering a voluntary no-pay leave scheme to employees. The measure is part of wider efforts to help the airline cope with the ongoing COVID-19 outbreak. © 2020 All rights reserved under The Online Citizen Pte Ltd. From March 1, Singapore Airlines ’s (SIA) executives will be given a pay cut between 10% to 15%. In an employee email, chief executive Goh Choon Phong said he will take a 15% pay cut. READ: Singapore Airlines Group to retrench about 4,300 employees A 27-year-old SIA flight attendant who declined to be named told reporters that he needs a part-time job to pay his rent. Chief executive Goh Choon Phong will lead the way... Register to read this article. The lessons of the 2008 financial crisis are fresh in US CEOs’ minds, when bailout recipients such as insurance group AIG were forced to cut their leaders’ pay after a fierce public backlash. Singapore Airlines Ltd. Chief Executive Officer Chew Choon Seng, who took a pay cut while maintaining the carrier’s wine budget during the recession, samples economy-class … Goh said those who opt for the scheme “can be assured” that their jobs will be secure upon their return. He added that executive vice presidents will take a 12% cut, while senior vice presidents, 10%. Are employees entitled to paid sick leave while awaiting COVID-19 test results? The Coronavirus crisis has crippled travel and airline industries across the world. “Tough decisions will be needed along the way. SINGAPORE, June 20 (Reuters) - The CEO of Singapore Airlines , the world’s biggest by market value, will take a 20 percent pay cut as the carrier looks to … Senior vice-presidents will get a 25 per cent cut, up from 20 per cent, and executive vice-presidents will get 30 per cent cut, up from 25 per cent. Impressive: Singapore Airlines CEO Takes 15% Pay Cut February 29, 2020by Ben (Lucky)19 It's always nice to see airline executives leading by example. SINGAPORE Airlines (SIA) has implemented more measures to slash costs, including bigger pay cuts for the bosses, a 10 per cent salary reduction for … The executive vice presidents will be taking a 12 percent cut while the senior vice president level employees will take a 10 percent cut, according to the Business Times. Other leaders will be given pay cuts in the coming months: SIA’s board of directors “have also decided” to take a 15% cut in their fees to “show solidarity” with the management and staff, according to the note seen by The Straits Times. The top management at Singapore Airlines has set an example for the rest of the staff by taking a pay-cut. When times are tough, airline executives are quick to cut the pay of employees, asking them to be understanding of the sacrifices that are needed, and then give themselves big bonuses for all of their cost cutting. Mandy Ng Kit-man, the airlines’ CEO, will take a 15% pay cut through 2021, while director-level management will take a reduction of the same percentage for the first six months of the next year. In a media statement, SIA said over recent weeks it had “aggressively” cut flights, capital spending and operating costs and was now reducing manpower costs “during this difficult time”. CEO Chew Choon Seng's management will also see cuts of between 10 and 20 percent from July, while the directors have volunteered for a cut in fees of 20 percent. LONDON – The CEO of Tata-Singapore Airlines’ joint venture carrier Vistara (UK), Leslie Thng, will take a 20% pay cut per month until December this year. He will take a 30 percent cut to his base salary from April to December, as will Chairman Patrick Healy, with executive directors taking a 25 percent cut, the memo said. Fun Friday: Is Christmas ‘cancelled’ this year? Mandy Ng Kit-man, the airlines’ CEO, will take a 15% pay cut through 2021, while director-level management will take a reduction of the same percentage for the first six months of the next year. This is part of wider cost-cutting measures to cope with the ongoing outbreak. We also get your email address to automatically create an account for you in our website. Goh said the group, made up of SIA, SilkAir and budget carrier Scoot, has temporarily suspended more than 3,000 return flights from February to end May, in order to mitigate the impact of the drop in demand following the global outbreak. Singapore Airlines CEO Takes 15% Pay Cut - One Mile at a Time It’s always nice to see airline executives leading by example. Chief executive officer (CEO) Goh Choon Phong will take the lead, with a 15 per cent cut, effective from March 1, it said. “I used to joke about working as a GrabFood delivery rider, now it seems like a possibility,” he lamented. Mr Joyce insists he has the backing of the board, despite the record first half loss. Two of Malaysia's leading airlines, Malaysia Aviation Group (MAG) and AirAsia Bhd have taken drastic steps in reducing staffs' salaries in the wake of the coronavirus outbreak that has affected their business. SIA is closely monitoring the evolving situation and additional measures will be implemented if necessary, with consult from groups like staff unions. What changed? Other … The pay cut was on top of a 10 per cent reduction in the monthly variable component (MVC) of their wages, according to straitstimes.com. 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