Said Jon*: “I’ve been just living on my basic pay because I don't really have a lot of commitments … (thinking) it will last for a couple of months. An additional 1,700 have taken jobs in other organisations. Retrenchment benefits may seem few and far between. A spokesman said that these employees will be provided more information in the coming days. Get help early before deciding to retrench If you need any of the following, you can submit an early alert to us: Get information on government assistance schemes to support your restructuring exercise. On 24 March 2020, the Ministry of Human Resources (“Ministry”) released its second FAQ on the COVID-19 outbreak (“FAQ”), where it covered the issue of retrenchment of employees. This year, she has been called up for one flight a month since April. So far, Lin has not received the dreaded retrenchment email, but she said that everyone was anxious when the news broke. In a press statement, SIA said that it had to cut about 4,300 position across its airlines, however, the retrenchment has been “mitigated by a recruitment freeze that was implemented in March 2020, open vacancies that were not filled, an early retirement scheme for ground staff and pilots, and a voluntary release scheme for cabin crew”. This is not a reflection of the strengths and capabilities of those who will be affected, but the result of an unprecedented global crisis that has engulfed the airline industry. Mr Ng Chee Meng, the man who’s had more headaches recently, has taken to Facebook to express a “deep sense of loss and sadness.”, When I sent off our FlyScoot team who volunteered to bring Singaporeans back from Wuhan earlier this year, there was a…, Posted by Ng Chee Meng 黄志明 on Thursday, 10 September 2020, According to NTUC, the unions have been working closing to avoid a retrenchment for the last six months, but like what NTUC deputy secretary-general Cham Hui Fong said, “Regrettably, these efforts were insufficient to avoid it completely and overcome the severity and prolonged impact of the Covid-19 pandemic.”. South Africa is now entering a ‘retrenchment season’ as it grapples with the impact of the coronavirus lockdown, says law firm Cliffe Dekker Hofmeyr. In part, SIA’s losses also stemmed from the US$638 million in charges it took on failed oil hedges. SAA begins retrenchment process, nearly 5000 employees to be affected. The SIA Group had more than 28,000 employees across three airlines and SIA Engineering as of Mar 31, according to its FY2019/2020 annual report. READ: Singapore Airlines Group to cut about 4,300 positions as COVID-19 batters aviation industry, READ: SIA Group passenger carriage down 98.3% in August, some flights suspended due to COVID-19, READ: Retrenchments in Singapore spike in first half of the year, surpassing SARS peak: MOM, READ: More job losses expected for Singapore Airlines, say industry watchers, READ: Retrenched SIA Group staff offered more than 200 jobs by EtonHouse, Jumbo Group and Commonwealth Capital, LISTEN: Rethinking the role of national carriers while saving Singapore Airlines. When retrenched, you’ll receive a retrenchment package, but do you know how much tax you’re liable for? It is not only the estimated 1,000 AMSA employees who face retrenchment by the end of March 2020, but almost the same number of workers are … As usual, the unions would be working with the affected staff. "Over the past few months, our focus has been on finding temporary or contract employment for our members who may be displaced. Industry groups have also forecast that passenger traffic will not return to pre-COVID levels until around 2024. The airline employees welcomed the break at first, but as the COVID-19 outbreak drags on and airplanes remain grounded, the uncertainty has been unsettling, they said. The package for the retrenchment of about 9,000 employees … SINGAPORE - Retrenched Singapore Airlines (SIA) staff will receive one month of pay for every year of service, capped at 25 months, The Straits Times has learnt. SINGAPORE — A number of StarHub staff were left in shock, and tears, at the telco’s headquarters in Ubi this week, as they received news that they had been retrenched from their jobs. of its 27,000-strong workforce have taken no-pay leave. Created on 20 Nov 2020 7. SIA Group, which comprises more than 20 subsidiaries like Scoot and SilkAir, hasn’t had a retrenchment exercise: there were pay cuts and over 6,000 employees of its 27,000-strong workforce have taken no-pay leave. Created on 19 Nov 2020 8. Five myths about payroll tax deductions (Editor's Pick) ... a retrenchment package, might not be taxed on the payroll because there is a once-off R500 000 lifetime exemption for lumpsum payments in 8. #shorts, 6 Asian Myths That Aren’t True (Based on Science! SINGAPORE - Retrenched Singapore Airlines (SIA) staff will receive one month of pay for every year of service, capped at 25 months, The Straits Times has … Understand how to apply the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment. In 2003, when the SARS outbreak hit Asia, SIA retrenched hundreds of staff. Furthermore, the retrenchment exercise which cut 2,000 jobs cost the group S$42 million, SIA disclosed for the first time since its announcement on the axe falling. All three staff members CNA spoke to, two of whom are cabin crew and one from SIA headquarters, said that their salaries plunged by about 50 per cent after their work hours were reduced since April. The retrenchment exercise at SIA, one of the bigger ones by a company in Singapore this year, comes as little surprise as the airline industry battles its biggest crisis yet. JustMoney looks at how your retrenchment package is taxed. On the eve of a crucial meeting with SAA creditors, the airline’s 617 pilots are vexed by the retrenchment packages they have been offered. SIA expects to operate under 50% of its capacity at the end of financial year 2020/21 versus pre-Covid levels. *At their request, CNA is not using the real names of the SIA staff quoted in this article. A retrenchment package could include: - 3 Months Notice Pay - Severage Package - Service Allowance - Relocation Allowance - Medical Aid for 3 - 6 Months - Purchase of assets at book value TAXATION Tax concessions apply to retrenchment amounts received - See FAQ Topic 'Tax - Retrenchment'. HDB Planning to Launch 17K BTO Flats in 2021 & Some Are in Mature... M1 Users Reported Disruption This Morning; 2nd Time in This Month, Everything About the Thailand COVID-19 Sudden Outbreak That Involved Migrant Workers. It’s a bit chim to explain the rationale behind that, so just remember this: even if COVID-19 is completely defeated by the end of this year, fewer people are going to travel next year. SIA has said it expects to operate under 50 per cent of its capacity at the end of financial year 2020/21. SIA RETRENCHMENT Unfortunately it has begun . Retrenchment benefits. Well, it has begun. The Receiver of Revenue applies the retirement tax table on retrenchment, i.e. In 2003, when the SARS outbreak hit Asia, SIA retrenched hundreds of staff. After getting clarification from KPKT, we were informed . meREWARDS lets you get coupon deals, and earn cashback when you complete surveys, dine, travel and shop with our partners. Of those, the bulk - more than 17,000 - … You can read this article whereby we simplify everything for you. Voluntary Retrenchment - What is voluntary retrenchment? 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