Singapore Airlines to Cut 414 Jobs

Home>>World

Last updated at: (Beijing Time) Thursday, June 19, 2003

Singapore Airlines to Cut 414 Jobs

Singapore Airlines (SIA) announced on Thursday that it will retrench 414 local employees to cut costs following the devastating effects of the SARS epidemic on the travel industry.

DISCUSSION

CHINESE

SEND TO FRIEND

Singapore Airlines (SIA) announced on Thursday that it will retrench 414 local employees to cut costs following the devastating effects of the SARS epidemic on the travel industry.

'We have always said that we would consider retrenchment as a measure of last resort. I am sad to say that we are now at that point,' said SIA chief executive Chew Choon Seng in a statement.

Mr Chew said in an address to staff that SIA suffered an operating loss of S$166 million (US$96 million) in May, lower than the S$204 million loss in April, but this was partly because of lower fuel prices in May.

Mr Chew stressed this worked out to a loss of over S$6 million per day during April and May, when SARS was at its peak.

The retrenched employees represent 1.5 per cent of the local staff strength of the SIA group, which also includes engineering, airline services, cargo and property operations as well as its regional carrier SilkAir.

SIA has already cut its capacity by more than 30 per cent and imposed unpaid leave on staff to cut costs as travellers stayed away from East Asian countries for fear of contracting SARS.

Source: Agencies

Questions?Comments? Click here

Singapore Prepares for Protracted War Against SARS

China Grants 'Fifth Freedom Rights' to Singapore Airlines

Singapore Roars into Action to Bring Visitors Back

US Wants Participation of South Korea, Japan in DPRK Nuclear Talks ( 8 Messages)

China Builds World's Longest Trans-oceanic Bridge ( 9 Messages)

Trial Navigation via Three Gorges Ship Lock Begins ( 2 Messages)

Dialog: Focus on US Global Military Deployment ( 3 Messages)