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 respect of retrenchment, retirement or death. Image: Business Day Retrenchment benefits are payments given to employees to compensate them for the loss of employment. More than four months on, the airline industry continues to be in dire straits, with SIA more badly affected than most as it has no domestic routes. The group created by airline cabin crew and former crew members has about 1,600 members from SIA, SilkAir, and Scoot. When the employee enters into an agreement with his/her employer to be retrenched, not to claim unfair dismissal and not to claim additional pay, in return for payment of a retrenchment package which includes his/her severance pay, leave, other pay s/he is legally entitled and additional benefits. SINGAPORE – Retrenched Singapore Airlines (SIA) staff who started receiving their pink slips from Monday (Sept 14) have been told that they will continue to receive their salary until Dec 15 this year, The Straits Times has learnt. Ship finance bounces back after Deutsche Bank retrenchment DB’s industry lending has fallen sharply since the shipping downturn and 18,000 jobs were axed at the bank, but it’s still in the game with a leaner and fitter book, argues its head of transport This year isn't a great year for most people. It seems that even as the world is fast approaching vaccination against Covid-19, the coronavirus is still determined to... How to Use “Ok Boomer” in an Office #shorts. Showering in the Morning vs Evening: Which is Better? Why Ah Beng threw butter out of the window? In the 4th quarter alone (Jan – Mar 2020), it lost S$732 million. The aviation industry is currently still reeling from the impact of Covid-19, and Singapore Airlines (SIA) is no exception — they announced that they’re letting go of about 2,400 more staff on Monday (14 Sep)..  Telkom interpreted the letter as being the first sign that the Alliance intended delaying the consultation process because it requested further information despite what Telkom had provided to the unions prior to and at their first meeting. A spokesman said that these employees will be provided more information in the coming days. You can read more about the fate of air travel here: We’re officially one week away from Phase Three, and all of a sudden, things don't look so goody now. 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. In other words, they could’ve retrenched 4,200 people instead. As usual, the unions would be working with the affected staff. It is a very sad time indeed. Affected staff will receive salaries in place of their notice period, and those with the airline for more than two years will get an additional month’s pay for each year of service, capped at 25 months. meREWARDS lets you get coupon deals, and earn cashback when you complete surveys, dine, travel and shop with our partners. Industry groups have forecast that passenger traffic will not return to previous levels until around 2024. 07 July 2020 - 23:16 By TimesLIVE. 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. From the outset, our priorities were to ensure our survival and save as many jobs as possible. . So far, Lin has not received the dreaded retrenchment email, but she said that everyone was anxious when the news broke. 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 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. 2,400 SIA staff affected by job cuts amid Covid-19 fallout, Singapore News & Top Stories - The S.pdf (816.3 KB, 99 views) Everything has been temporary—but today, the pride of Singapore has taken the drastic action and implemented something permanently: retrenchment. Posts: 4 SIA RETRENCHMENT. *At their request, CNA is not using the real names of the SIA staff quoted in this article. While she and her colleagues had been expecting the news for some time, with airlines struggling amid the COVID-19 pandemic, it still came as a blow. 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. Given that the road to recovery will be long and fraught with uncertainty, we have to unfortunately implement involuntary staff reduction measures. South Africa is now entering a ‘retrenchment season’ as it grapples with the impact of the coronavirus lockdown, says law firm Cliffe Dekker Hofmeyr. Industry groups have also forecast that passenger traffic will not return to pre-COVID levels until around 2024. Follow the latest news on retrenchment at TODAYonline. The two companies join EtonHouse International Education Group, who recently also pledged jobs to those affected by SIA Group's retrenchment exercise. It is a very sad time indeed. The initial rescue plan proposed cutting SAA jobs from 4,708 to 1,000. SIA RETRENCHMENT Unfortunately it has begun . Colleagues gathered for “one last drink” as they waited to see who got the cut. What is retrenchment? “It was really a very sad day for all of us, nobody wanted anybody to go.”. SINGAPORE - Retrenched Singapore Airlines (SIA) staff who started receiving their pink slips from Monday (Sept 14) have been told that they will continue to receive their salary until Dec 15 this year, The Straits Times has learnt. The reference to two packages appears to have been a reference to the proposed ordinary retrenchment package and the voluntary separation package. 21 November 2020 Singapore Airlines (SIA) and SilkAir will offer a wider range of main courses on flights under 3.5 hours 1 from 1 December 2020, providing customers with a greater variety of local Singaporean and international favourites on these … 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”.  Telkom interpreted the letter as being the first sign that the Alliance intended delaying the consultation process because it requested further information despite what Telkom had provided to the unions prior to and at their first meeting. The retrenchment also extends to their budget flight alternative, Scoot. 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. Created on 20 Nov 2020 7. He is now thinking about taking up part-time work so that he can continue saving for the future. The Protection of Personal Information Act 4 of 2013 (POPI) poses yet another challenge. 2020 has given rise to many challenges for employers. (Photo: SIA) SIA Group said in a statement that the retrenchment exercise will be carried out in a “fair and respectful” manner. 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.”. Join Date: Sep 2020. The department said the retrenchment packages "will be supported by a social plan and skills development programme" for those who lost their jobs. ), When You Exercise & Eat at the Same Time #shorts, 10 COVID-19 Cases Today (21 Dec); 1 Case in the Community, Here’s How the 3 Main COVID-19 Vaccines Work Simplified for You. "During the exercise, SIA deployed resources from across the company to support the affected staff. SIA reported a net loss of S$212 million for the 12 months ending 31 Mar 2020. Check out top news from Singapore and around the world. SIA had announced that it would slash about 20 per cent of its headcount - about 4,300 positions - amid the COVID-19 pandemic that has paralyzed the air travel sector. By African News ... "Load factors on the airline have declined steadily from August 2019 to a low of 71 percent in January 2020. South Africa is now entering a ‘retrenchment season’ as it grapples with the impact of the coronavirus lockdown, says law firm Cliffe Dekker Hofmeyr. Attached Files. 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. The Receiver of Revenue applies the retirement tax table on retrenchment, i.e. Tip: Be able to pay your debt even when you get retrenched. Prospective BTO couples... heads up. A retrenchment package may include any or all of the following, severance pay (cash), gratuity (cash) and other material benefits like motor vehicles, … 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. After taking into account a recruitment freeze, natural attrition and the take-up of voluntary departure schemes, the potential number of staff impacted will be reduced to about 2,400 in Singapore and in overseas stations. Collectively, SIA, SilkAir and Scoot employed over 21,000 staff at the end of the previous financial year. The emergence of the Covid-19 pandemic has exacerbated the situation with a lot of companies retrenching their employees. In 1796, the British doctor Edward Jenner developed a vaccine to combat the deadly smallpox virus. We have posted job opportunities on our Employee Support Portal, and placed more than 500 staff thus far.". “The next few weeks will be some of the toughest in the history of the SIA Group as some of our friends and colleagues leave the company. Unfortunately it has begun . . SIA Engineering joint venture reportedly retrenched 144 employees within 3 days in July Some retrenched employees said that many veteran workers were also laid off. The Ministry of Human Resources has taken JustMoney looks at how your retrenchment package is taxed. An additional 1,700 have taken jobs in other organisations. 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. The terms of the release package were explained individually to each affected staff," a spokesman said. Last week, Singapore’s national carrier said that about 2,400 employees would be affected by job cuts, while another 1,900 positions are being eliminated by measures such as a recruitment freeze and early retirement schemes. 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. Sep 12, 2020, 5:00 am SGT 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. 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. But for M1? In the 4th quarter alone (Jan – Mar 2020), it lost S$732 million. For employees who have seen pay cuts, SIA said that it has also been helping them find temporary job opportunities outside the organisation: "We have waived our exclusive service for cabin crew who wish to take up such jobs. SIA reported a net loss of S$212 million for the 12 months ending 31 Mar 2020. Retrenchment benefits. We will conduct this process in a fair and respectful manner, and do our best to ensure that they receive all the necessary support during this very trying time.”. “Having to let go of our valuable and dedicated people is the hardest and most agonising decision that I have had to make in my 30 years with SIA. SIA also arranged for counsellors, medical staff, and members of its unions to be present to provide support. In part, SIA’s losses also stemmed from the US$638 million in charges it took on . The package for the retrenchment of 9,000 employees was given the go-ahead in August. Created on 20 Nov 2020 7. The other airline in Singapore, Jetstar Asia, has axed 180 employees in June, and most of the employees in Singapore are on no-pay leave, too. And here’s something interesting: other countries are also encouraging domestic tourisms, which means airlines could still operate within the country. More cases of disguised retrenchments – workers getting laid off without their employers treating it as a retrenchment to avoid paying a fair package – are surfacing. June 8, 2020 October 4, 2020 by BurgieLaw The Government of Malaysia announced yesterday (7.6.2020) the extension of Movement Control Order to 31 August 2020, albeit in a more relaxed environment. 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. 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 … The retrenchment exercise – which affects about 2,400 staff – is being conducted at the SIA Training Center, near Changi Airport, for Singapore-based staff. When retrenched, you’ll receive a retrenchment package, but do you know how much tax you’re liable for? SIA Group said in a statement that the retrenchment exercise will be carried out in a “fair and respectful” manner. SIA expects to operate under 50% of its capacity at the end of financial year 2020/21 versus pre-Covid levels. SIA has said it expects to operate under 50 per cent of its capacity at the end of financial year 2020/21. Industry groups have also forecast that passenger traffic will not return to pre-COVID levels until around 2024. But not Singapore, because no one takes a plane from Changi Airport to Seletar Airport. On top of this, each affected employee will […] 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. 07 July 2020 - 23:16 By TimesLIVE About 2,700 SAA workers will lose their jobs as part of a voluntary severance deal, according to the public enterprises department. “I think this is the worst ever, much worse than SARS (Severe Acute Respiratory Syndrome)," she said. … 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. your retrenchment package (usually a few weeks’ pay for every year or service) and retirement fund balance attract tax…The first R500 000 is not taxed, assuming of course that you have not made previous withdrawals. Alice*, who has been with the airline for decades, said that she's working reduced hours, but knows of people who took early retirement packages. 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