Despite posting US$102m profit in 2020 NagaCorp lays off over 600 workers

Although the firm stated that this move was attributed to the closure of venues, the work union has raised concerns regarding the matter

A minimum of 600 employees at land-based NagaWorld have received lay-off messages. Although NagaCorp stated that the lay-offs were due to financial hardships from the COVID-19 pandemic, the Hong-Kong listed parent firm has reported profits of US$102.3 million in net in 2020.

Ben Lee, managing partner of iGamix said “for a company that’s making so much money, why would they need to let go of their staff?”

Chhun Sokha, Vice President of the NagaWorld Union, noted that more of the 500 of the laid-off workers were union members and that NagaWorld was being discriminatory towards them.

She raises the question of why the sum close to $10m was donated from the firm to help the Cambodian Government with its pandemic easing efforts but on the other hand laying off such a substantial number of its workforce.

“This gesture is just a fake, a hoax picture because the actions that the company has taken regarding the employees – mostly women, including, pregnant women and women who have given birth – also got the company’s layoff notification.’

The firm keeps maintaining that the reason behind the layoffs was due to the ongoing closure of venues.

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