Singapore Airlines to cut salaries by at least 10%, offers early retirement for eligible staff

Following on the earnings report for SIA, they have now also decided on pay cut across all their employees starting from 10% onwards. While this may help to control part of their cost for the short term, it is likely that SIA will continue to bleed as long as planes are grounded and with most countries continuing to close their borders for tourists.

"This amounts to 10 per cent of the basic salary for all staff below the level of manager, said SIA on Thursday (Jul 30).

Managers and senior managers will have their basic salaries reduced by 12 per cent, up from 10 per cent, while vice-presidents and divisional vice-presidents will see a 15 per cent cut, up from 12 per cent.

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.

CEO Goh Choon Phong's salary will be cut by 35 per cent, up from 30 per cent.

Source: CNA

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