In the News
Asked on 15 Jul 2020
It will take a while before the travel industry goes back to normal.
Several hotels like those under hospitality group Banyan Tree have been reported to lay off staff in Singapore. About 30% of employees under this group have been affected. Seems like the company is trying their best to train their affected staff to help them gain new skills so they can look for other jobs.
Klook is said to streamline their workforce by reducing their headcount or getting their employees to take temporary leave. The travel booking start-up has offices in countries including Singapore so there’s a likelihood their employees are affected. However, they seem to have pivoted quite well, focusing on local attractions and stay-home activities which works in favour of Singaporeans while going through circuit breaker.
I find it interesting that Singapore airlines isn’t planning to cut jobs despite having been hit hard by covid-19. Since Singapore doesn’t have a market for domestic travel, SIA mainly focuses on international travel which has reduced significantly due to travel bans worldwide. Many of their staff (cabin crew) are reported to take temporary leaves or are re-trained to work as Coronavirus 'Ambassadors'. However, the carrier doesn’t intend to cut jobs and instead, is raising about S$8.8 billion ($6.3 billion) through share and convertible bond sales.