We also get your email address to automatically create an account for you in our website. Changi Airport recently has also reported that passenger movements fell by over 25 per cent during the first two weeks of February, while traffic between Singapore and China dropped by more than 85 per cent year on year. A copy of the circular was seen by TODAY. Coronavirus: SIA cuts pay for senior staff, with CEO Goh Choon Phong leading the way with a 15% cut 02/28/2020 SINGAPORE – Singapore Airlines (SIA) is cutting pay for management staff, with chief executive Goh Choon Phong leading the way with a 15 per cent salary cut… CEO Goh Choon Phong's salary will be cut by 35 per cent, up from 30 per cent. KESTENBAUM: One of those outside candidates actually made it onto the board. Sia defends portrayal of autistic character in new film ... pay cut. "Over the last three years, our Transformation Programme has strengthened our revenue generating capabilities and driven operational efficiencies," said the spokesperson, adding that SIA will tackle COVID-19 from "a position of strength". In a memo addressed to staff seen by CNA, Mr Goh said that Changi Airport reported an over 25 per cent drop in passenger movements for the first half of February, while traffic between Singapore and China dropped by more than 85 per cent year-on-year. From March 1, his pay will be cut by 15 percent . “The latest cuts follow the spread of the coronavirus into Europe and North America over the past fortnight, as well as its continued spread through Asia,” Qantas said in a statement. When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. Singapore Airlines (SIA) Chief Executive Officer, Goh Choon Phong announced yesterday (28 Feb) that the management of SIA will be taking a pay cut effective 1 March. The CEO of Singapore Airlines, the world's biggest by market value, will take a 20 percent pay cut as the carrier looks to cut costs after seeing profits battered by weak travel demand and volatile It is SIA which is offering the scheme. For instance, although Toll group’s new CEO agreed to a temporary 40 per cent pay cut, the company declined to disclose the value. We apologise for the error. Southwest Airlines CEO Gary Kelly, who had a base salary of $750,000 in 2018, had his pay cut by 10%. As a result, more than 500 cabin crew members and 50 pilots are facing much shorter flight hours. The actions will help reduce the company's manpower costs amid the challenges of the ongoing COVID-19 outbreak, an SIA spokesperson said in response to CNA's queries. March 9, 2020 — 8.29am. According to SIA Annual Report FY2018/19, Goh earns $1.4 million in salary or about $116K a month. According to reports, SIA is cutting its senior management’s salaries by 10% to 15% starting March 1 and offering a voluntary no-pay leave scheme to employees, while Malindo Air will be imposing a 50% pay cut on its staff in addition to two weeks of … Its chief executive officer will take a 25 per cent pay cut, up from 12 per cent previously, while the executive vice-president’s grows from 10 per cent to 20 per cent. The lessons of the 2008 financial crisis are fresh in US CEOs’ minds, when bailout recipients such as insurance group AIG were forced to cut their leaders’ pay after a fierce public backlash. And General Electric CEO Larry Culp, who had a base salary of $2.5 million last year , … Now He’s Battling Amazon. Board members will also take a 15 per cent cut in their board fees from March to "show solidarity with the management and all staff". Once your account is created, you'll be logged-in to this account. Chief executive Goh Choon Phong will lead the way... Register to read this article. Editor's note: An earlier version of this article said that CAG will offer a voluntary no-pay leave scheme. SINGAPORE: With COVID-19 having a "significant impact" on air travel, Singapore Airlines has announced a pay cut for management and a voluntary no-pay leave scheme for staff below senior management level on Friday (Feb 28). By Anna Robaton July 12, 2016 ... Stock options make up a larger component of CEO pay … Salary: $850,000 estimated base pay (based on 2018 CEO salary) Pay cut: 100% Eric Artz, president and CEO of REI, announced in April that he was forfeiting 100% of his base salary … Temporary salary cut reduces Emerson CEO's pay to $16.5 million Dec 14, 2020 Dec 14, 2020; 0 {{featured_button_text}} FILE PHOTO: David Farr, CEO of … Captains will see their salaries cut by 25 to 28.5 per cent, while first officers will receive a pay cut of 15 to 18.5 per cent depending on their wage. “We will continue to be proactive in implementing measures to meet the evolving challenges. Mediacorp Pte Ltd. All rights reserved. By Alex Druce. Save. From Mar 1, senior management figures will take a 10 to 15 per cent reduction in their salary, including SIA CEO Goh Choon Phong, who will take a … The top management at Singapore Airlines has set an example for the rest of the staff by taking a pay-cut. The spokesperson confirmed this, saying that the company has cut the pay of all staff by at least 10 percent. Board members have also decided to take a 30% cut in their fees “in solidarity with the company”. In Asia, Singapore Airlines said it was unclear when it could resume normal services after grounding 185 of 196 aircraft. The airline has directed its senior employees to go on leave without pay for up to three days between April 15 and April 30, PTI reported citing Vistara CEO as saying. Pay Cut Per Person. Chief Executive Officer Goh Choon Phong will lead the way with a 15 per cent cut from 1 March, a spokesperson from SIA said in an email reply to Yahoo Finance Singapore on Friday (28 February). The CEO of Southwest Airlines, Gary Kelly, announced that he will voluntarily take a 10% pay cut in response to the dramatic drop in air travel. Their total package ranges from $2.5 to 2.75 million each. Annual Report FY2018/19, Goh earns $ 1.4 million in the EU had planned! 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