Power a future-proof HR by driving intelligent business solutions and talent analytics. Learn how to at Accelerate HR 2020 with more than 120 HR peers.
Download the conference brochure and pre-order your tickets today.
After reporting underwhelming half year results, which saw the profit of Cathay Pacific slumped by 82%, the airline also announced that it will freeze the hire of non-essential staff, watch its budget and delay the delivery of new aircraft, the South China Morning Post reports.
“We are reviewing productivity and expenditure, we have stopped hiring and replacement of non-operationally critical staff, and we are restricting non-essential discretionary spending,” said Cathay’s chairman John Solar. “In places like our head office in Hong Kong, there is no need to add staff, we have a hiring freeze.”
Daniel Chong Wai Chung who was newly appointed the Group CEO of Convoy Financial in August certainly doesn’t sit well with the term non-essential staff.
On his Facebook, Chong wrote “I have said it many times a company would not succeed without the support of lower level employees. On the other hand only the senior management has the power to make wrong decisions to fail the company, how dare they blame the failure on the low-level employees.
Tell me who should take the full-responsibility of the company’s failure? Who is the non-essential staff?”
ALSO READ: Cathay Pacific lets go of IT workers
"The Asia Recruitment Award is the oscars of the recruitment industry. A display of the best of the best!"
Start your entries preparation early.
Open to both in-house recruitment & talent acquisition teams and recruitment solution providers.