China Aircraft Service Port is laying off about 160 remaining workers and taking 8 days of unpaid leave per month. TurboJet asks its employees to take 1.5 days of unpaid leave per month | Finance | Real Time | 20201204



(Response from new companies) After the government announced that it would no longer launch the “Employment Insurance” program, a wave of corporate layoffs began to emerge. China Aircraft Services Co., Ltd. (CASL), which mainly deals with airplane route and basic maintenance, has laid off about 160 workers today. This is the company’s second layoff during the year. In total, almost a third of the total workforce has been reduced. In addition to redundancies, three additional cost-saving measures have been taken to reduce personnel costs. In the afternoon, the company corrected the actual number of cuts from approximately 170 to approximately 160.

This newspaper today received an internal letter from Andreas Meisel, Chief Executive Officer of China Aircraft Services, to all employees (4th) Meisel stated that the fourth wave of pneumonia has already broken out in Hong Kong. Although a series of measures to reduce costs were taken earlier this year, the company’s operating conditions are still worse than expected. That’s why the company today announced a new set of cost-cutting measures, including:

1. From this month to March next year, the base salary of management personnel will be reduced by 10%, and it is recommended that management personnel voluntarily take four days of unpaid leave each month during that period;

2. It is recommended that employees outside of management voluntarily take at least 8 days of unpaid leave per month during the period. That is, if the employee follows the company’s recommendations, a total of 32 days of unpaid leave will be taken for 4 months;

3. The salary of all employees will be frozen next year;

4About 170 employees will be laid off and severance pay will be handled in accordance with labor law

The company is also urging current employees to “clean up” starting this month and take two days of paid vacation each month.

When China Aircraft Services responded to this newspaper’s question, it confirmed the news of layoffs and reductions in staff costs and corrected the actual number of cuts to about 160, accounting for about 17% of all employees. When asked about the criteria for selecting targets for layoffs this time, and whether they will be fired again in the future, the company did not immediately respond.

Company CEO Andreas Meisel said this was by no means an easy decision. To cope with the burden of the epidemic, expenditure must be reduced accordingly. The company has looked at all feasible options and retained as many employees as possible. Layoffs are the last resort for the company to continue its development and avoid greater harm to the company. The company urgently needs to adjust its operational scale to the current market conditions.

CATIC reiterated that it will continue to provide services to all customers at the Hong Kong airport and stressed that safety standards will not be affected by this operation.

Got a total of 55.48 million yuan for the two periods

In fact, China Aircraft Services laid off about 200 workers as early as April this year, accounting for 18% of the company’s 1,100 employees. Taking into account the further downsizing this time with about 160 employees, the company laid off about 360 people over the year, accounting for nearly 33% of the company’s employees.

Companies have applied for a guaranteed wage supplement for two periods from June to November. In the first phase, more than 27.69 million yuan in wage subsidies was approved and in the second phase, about 27.79 million yuan was approved, with a pledge of 1,092 employees. However, after receiving the first grant, the company still launched a “voluntary” unpaid leave plan, increasing the recommended number of days from 5 to 8 days per month.

Current Employees: The company’s practices are so strict

Some current employees believe that since the beginning of this year, the company has continued to urge employees to take “voluntary” unpaid leave. The measure will take more than six months. Even if the company has already applied for the “Assure Employment” plan, the unpaid leave measure will continue, which is tantamount to a pay cut. . The “Assuring Employment” program was just completed last month and the company immediately launched a second wave of layoffs, including pay freeze and “voluntary” unpaid leave. Practice is very strict.

Speaking of the company’s operations during the epidemic, the employee pointed out that the company primarily provides flight routes and basic maintenance services to second and third class airlines. While the relevant services from mainland and third world airlines have declined, the main customers, Cathay Dragon and Hong Kong Express under Cathay Pacific (293), have not reduced their aircraft maintenance. “Although Dragonair is the only one in charge, but Some planes fly; other planes don’t fly much, but we need to continue maintenance and repairs.”

Take the department of the current employee as an example. Before the epidemic, there were about 20 people on the ward. After being fired and some colleagues taking the initiative to resign, there were only about 5 people left in the department. “The workload is only one third, but the number of people. Just not much (75%), the company will not hire anymore, and the rest (employees) will all eat (share the work)”. He criticized the company for never explaining the criteria for layoffs, which isn’t fair.

AVIC was founded as a joint venture by China Airlines (Group) Co., Ltd., United Airlines, China Airlines and Gamma Aviation Group (Asia). AVIC Group is the largest shareholder with 40% of the company and the other three companies each have 20%. It is worth noting that Hutchison Whampoa (China) Limited, a subsidiary of CKH Holdings (001), owns approximately 21.2% of Gamma Aviation, the parent company of Gamma Aviation Group (Asia).

TurboJET requires employees to take 1.5 days of unpaid leave per month

In addition, TurboJET has sent a letter to employees requesting employees to take 1.5 days of unpaid leave every month from 2021. If the employee does not agree to the unpaid leave arrangement for next Wednesday, their employment contract will end and the company will compensate under applicable law. TurboJET refers to the impact of the epidemic, there is no timetable for reopening, and customs have been closed for 10 months with no revenue. Although the costs have been kept under control, it still has to bear high fixed costs.

—————————–

Master the wisdom of financial management and feel the taste of life

InvestMAN’s new web page is elegant here

—————————–

Use retirement to gain financial freedom easily

Click to view “The Book of Retirement Finance”

—————————–

【Worldwide construction line】 Dream home zero distance

Immigration strategy for Hong Kong people

—————————–

Support Apple’s in-depth report, get deep into the community and kick the empowered ones, that is, the Like Apple topic and research team’s FB page!


Source link