Lee Choong Yan, president & chief operating officer (COO) of Genting Malaysia, said in a statement that cost-cutting measures like salary reduction are crucial to ensure the sustainability of the company’s business as well as to protect maximum possible number of jobs.
Lee Choong Yan, president & chief operating officer (COO) of Genting Malaysia, said, “We need to control Resort World Genting’s cost base to ensure the sustainability of our business and to help protect as many jobs as possible. Even with the recent availability of vaccines, tourist traffic to RWG (Resorts World Genting) is expected to remain subdued and uncertain in the short term.”
Genting Malaysia asks staff to take further pay cuts on latest COVID-19 impact: report
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Genting Malaysia, operator of Malaysia’s Resorts World Genting, has reportedly asked some employees to undergo further staff pay cuts as it looks to limit the damage from the ongoing COVID-19 pandemic.
According to a report by
Bloomberg, an internal Genting Malaysia memo circulated on Monday 1 March 2021 requests that some employees agree to a temporary pay cut of between 15% and 20% for a period of around three months, until May. Other staff have been asked to take one day of leave each week without pay.
Asian casino operator is reportedly instituting the cost-cutting move in the wake of a second coronavirus-related closure of its Resorts World Genting venue.
Genting Malaysia Cuts Pay Again as Covid Shut Local Casino
Bloomberg 3/3/2021 Yantoultra Ngui
(Bloomberg) Casino-to-hospitality giant Genting Malaysia Bhd. is planning another round of salary cuts as it seeks to slash costs amid the prolonged coronavirus pandemic.
Genting Malaysia, a unit of conglomerate Genting Bhd. that’s controlled by Malaysian tycoon Lim Kok Thay, is asking some employees to agree to a temporary reduction of 15% or 20% in basic salary based on their ranks, according to an internal memo dated March 1 seen by Bloomberg News. Some workers are being asked to take one day a week of no pay leave.
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