Affected employees will be given help to cope with induced company restructuring
Genting Malaysia Bhd (GENM) on Monday announced that it will commence separation schemes for employees to further cushion the financial impact due to the suspension of operations across its properties.
Resorts World Genting (RWG), located in Genting Highlands, is owned and operated by GENM. It is the only casino allowed to operate in Malaysia.
The closure of RWG is in adherence to the Movement Control Order (MCO) issued by the Malaysian government to control the spread of the Covid-19 virus.
Aside from Resorts World Genting, GENM owns and operates Resorts World Awana, Resorts World Kijal and Resorts World Langkawi.In an inter-office memo circulated to its employees mentioned by Malay Mail, Human Resources Senior Vice President Quan Cher Siong said GENM had to “assess and recalibrate our cost structure including staffing needs based on our current and anticipated future operating capacity.”
“Hence, we have to make a very difficult decision of restructuring our Malaysian operations and rightsizing our workforce.”
The decision to rightsize departments will also mean retrenching surplus labour, offering voluntary and mutual separation schemes, the SVP added.
“During this prolonged closure, our company continues to incur significant losses and the outlook remains uncertain as the pandemic evolves resulting in lower personal disposable income, change in customer behaviour, restrictions on mass gatherings, social distancing requirements and strict operating protocols to protect our customers and employees.”
The memo also stated that affected employees shall be notified and help will be extended in identifying their next career move.
This is the first time in RWG’s 55-year history that operations were suspended for the property. The suspension, which includes GENM’s non-gaming properties, was further extended several times since its first announcement in 18th March.
Aside from Resorts World Genting, GENM owns and operates Resorts World Awana, Resorts World Kijal and Resorts World Langkawi.
“When business operations resume, we will face challenges to regain the level of business our company saw prior to the pandemic,” said the SVP.
SIGMA LATAM FOCUS:
This event brings the Americas closer to delegates from Europe and Asia, with an interesting agenda featuring a line-up of speakers that showcases the company’s commitment to covering the various gaming verticals. Explore the full agenda here and register now, this one’s on us!
