In an effort to cut expenses, Resorts World Sentosa (RWS) in Singapore is letting go of around 400 employees working in it’s casino.
The casino hasn’t been doing as well recently, due to a lower number of big spenders from China.
RWS employs 12,000 people in total and began the retrenchment process in May 2016. It has been communicating and working with unions and the government, to better manage the process and help displaced employees.
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The Attractions, Resorts & Entertainment Union (AREU) and RWS issued a joint statement on the matter:
“With the current business environment, it is necessary for RWS to review the headcount in its gaming business so that it can achieve the right size to meet its business needs.”
“AREU has advised RWS to consider alternative ways of managing its manpower where possible. These could include upskilling employees and redesigning jobs, as well as redeploying affected workers to work in other functions within the company.”
“RWS and AREU have been working together to ensure fair compensation and treatment for the affected employees,” – AREU Executive Secretary, Desmond Choo.
With the gaming business seeing a slowdown, coupled with losses on investments, Genting Singapore, which runs RWS, posted an 83% year-on-year decline in net profit in 1Q2016.