Genting Malaysia expected to cut over 3,000 jobs

Credit: Genting Malaysia

Genting Malaysia Berhad is reportedly set to cut as many as 3,000 jobs, according to a news site, Bloomberg. The news report further points out that downsizing measures are already in place at the hospitality and casino company.

Quoting unnamed sources, Bloomberg stated that the dismissals have already started. Genting Malaysia had initially offered pay cuts as part of the first group-wide salary cut. The management team had undertaken a 20 percent pay cut as part of the Group’s austerity measures to cope with the ongoing Covid-19 pandemic.

The Group has also had to scaled back on casino operations in both Las Vegas and Singapore, as a result as the impact caused by the pandemic which resulted in a global lockdown. Despite easing of regulations taking place in stages currently in several countries, social distancing rules are still in place.

According to Malay Mail, the announcement was made by senior vice-president of human resources who said the company had to assess and recalibrate its cost structure. This included staffing needs, which was based on both current and anticipated future operating facilities.

 

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