Last Updated on 2020-03-02 , 10:49 am
The Covid-19 coronavirus has infected over 82,000 and claimed more than 2,800 lives, but it has also affected businesses.
As a result, many businesses have implemented measures to stay afloat, and SATS’s latest move to cut costs may anger a few.
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Reader Bao: Are they going to lower the quality of food in army cookhouses? How low can it already go?
No, Mr Bao. It’s something else. Don’t you read headlines?
SATS Offers Option For Voluntary Early Retirement For Older Workers While Management Staff Takes 10% Pay Cut Due To COVID-19
Due to the Covid-19 outbreak, SATS, the chief ground-handling and in-flight catering service provider at Changi Airport, is experiencing “sharp reductions in passengers and flights across Asia”.
As a result, they’ve implemented some new measures to cut costs and save jobs.
Giving older workers the option of voluntary early retirement
According to Mothership, SATS staff received a memo from the office of SATS’s President and Chief Executive Officer (CEO) Alex Hungate, delineating three different measures that the company was implementing.
The first was that the SATS management team — Vice Presidents and above — will take a 10% pay cut. That’s a noble move.
Secondly, the company is making arrangements for employees to go on voluntary unpaid leave. In their memo, SATS said, “For those who have not been able to spend time with their family or simply want to take a break from work, now is the time to do so.
“Your job will not be replaced and we will await your return,” they added.
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The third measure applies to workers aged 55 and above. In their memo, SATS also offered the option for voluntary early retirement to staff within this age group.
The memo stated that the company will make provisions to trigger the Employee Assistance Payments at an earlier retirement age. (i.e. 55 years old and above).
Proactive steps
A spokesperson for SATS said that these measures are “proactive steps to mitigate the risks and impact of the situation on our business and our people”.
In addition, the company is “accelerating company-wide programmes to multi-skill and upskill our employees in order to enhance their domain knowledge and help them embrace change and redeployment, so that we can rebound with resilience once conditions improve”, the spokesperson said.
So, what do you think?
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Reader Bao: I just hope they’ve better food. I’m going for ICT soon.
Here’s what NCMPs are, and what to expect after GE2025:
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