Singapore Airlines‘ management team has decided to take a pay cut, as the CONVID-19 continues to take a toll on their business.
Earlier this week Singapore Airlines announced that they have temporarily suspended over 3,000 flights, from February until the end of May.
In the internal note to staff on Friday (28th February) the CEO of Singapore Airlines, Mr Goh Choon Phong, has said that the board of directors and his management team will be taking the lead with a salary cut.
- Board of directors – 15% directors fee cut (1st March)
- CEO – 15% salary cut (effective 1st March)
- Executive Vice Presidents – 12% salary cut (effective 1st March)
- Senior Vice Presidents – 10% salary cut (effective 1st March)
- Divisional Vice Presidents & Vice Presidents – 12% salary cut (effective 1st April)
- Senior Managers and Managers – 5% cut (effective 1st May)
In addition, Singapore Airlines will be offering a voluntary no-pay leave scheme to employees; they will also be engaging with staff unions to discuss additional measures. The airline is also deferring some capital expenditures.
“Our priority is to save jobs” said Mr Goh in his internal note. He also warned that tough decisions had to be made along the way, as the airline continues to be proactive in rolling out measures to meet the evolving challenges.
H/T: Straits Times
