Business is not improving fast enough for Resorts World Sentosa (RWS), the Singaporean integrated resort owned and operated by Genting Singapore. The company has revealed it must lay off staff as a lack of tourism continues to strangle the business.
The Straits Times reports Resorts World Singapore is laying off approximately 2,000 employees as part of a “one-off workplace rationalization.”
The operator did not confirm though exactly how many of its 7,000 employees remain after the cuts. They have made the difficult decision to implement a one-off workforce rationalization, the company said in a statement.
Resorts World Singapore was cleared to reopen, following a long shutdown from the COVID-19 pandemic, on July 1.
However, that brought significant restrictions, allowing only upper-tier members of customer reward programs to play, as well as locals who’ve paid SG$3k that gives them unlimited access to the casinos.
That is something, but without the tourism to buff up revenues a bit, it just was not enough to save the employees’ jobs.
Cutting jobs is the first choice of the casino, and they stressed that they tried to tighten their belt in other ways first. Over the past few months, they have reviewed all costs, eliminated non-essential spending, and reduce the salaries of management by up to 30 percent.
With as much cost-cutting as Genting Singapore could try to find, this pandemic, and the lack of tourism it has brought with it, came at a terrible time.
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