Cathay Union Seeks More Time Over New Contracts
"); jQuery("#212 h3").html("

"); });
2020-10-28 HKT 19:57
The Cathay Pacific Flight Attendants’ Union on Wednesday called on the airline to push back its deadlines for staff to sign new contracts, while the government said it would arrange a meeting between the two sides as soon as possible to try to resolve the dispute.
Hong Kong's flagship carrier has offered employees who sign the new contracts before midnight on Wednesday a financial incentive of several thousand dollars, which Cathay describes as a "transition allowance". Those who choose not to do so would have until next Wednesday to sign the contracts, or they would be terminated.
All staff are asked to sign new contracts, which will see their pay and benefits cut substantially, as part of the airline's restructuring plan under which 5,300 employees in Hong Kong were laid off and the Cathay Dragon brand was axed entirely.
The union argued that management has not given employees enough time to consider their options, and asked for the deadlines to be postponed.
Cathay has refused to budge and dismissed calls for negotiations, saying enough staff have signed the new contracts to allow its flights to operate until next year.
The union believes about 1,000 employees have signed the new contracts, but said some of them already regret it.
Chanting slogans such as "the government saves CX, but let workers suffer", the union said in a press conference on Wednesday afternoon that the government has the responsibility to step in after it offered a multi-billion-dollar bailout package to Cathay earlier this year.
It said if the administration fails to step in, other companies which have benefitted from the government's job retention scheme or other subsidies would follow in Cathay's footsteps and lay off staff.
The union’s vice-chairwoman, Amber Suen, said the government should not use the deadline as an excuse for inaction, saying changes can still be made after midnight.
"We understand the deadline is approaching... but then even after this deadline, we still have to fight for what we deserve, because we still have seven days left," she said.
"We do urge the government to extend the deadline so that everybody can have a clear picture to understand thoroughly all the terms and conditions before they make the decisions."
The union added that it has sought different legal opinions and is deciding its next course of action.
China To Inject US$44 Billion Into State Banks To Boost Tech And Curb Risks
China said it will inject 300 billion yuan (US$44 billion) into state-owned banks this year to guard against systemic r... Read more
Hong Kong Regulators Expand GenAI Sandbox To Insurance, Securities And MPF Sectors
The Hong Kong Monetary Authority (HKMA), Securities and Futures Commission (SFC), Insurance Authority (IA), and Mandato... Read more
South Korea To Cap Crypto Exchange Ownership At 20%
South Korean regulators and lawmakers have agreed to cap major shareholder stakes in cryptocurrency exchanges at 20%, d... Read more
DBS Hong Kong Partners With Know Your Customer To Automate SME Onboarding
Know Your Customer Limited, a provider of automated business verification solutions, has partnered with DBS Hong Kong t... Read more
Hong Kong Banks Extend Loan Repayment Relief For Tai Po Fire Victims
The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) have met to discuss additional su... Read more
Hong Kong And Macao Deepen Financial Cooperation With Updated Agreement
The Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Macao (AMCM) held a meeting on March 3 to strengt... Read more
