- Title: Resorts World, one of Singapore's biggest employers, cuts staff due to COVID-19
- Date: 15th July 2020
- Summary: SINGAPORE (FILE - FEBRUARY 12, 2010) (REUTERS) RESORTS WORLD SENTOSA BUILDINGS SIGN ON BUILDING READING (English): "RESORTS WORLD" ENTRANCE TO CASINO INSIDE RESORT SIGN READING (English): "CASINO" SINGAPORE (FILE - AUGUST, 2010) (REUTERS) CASINO INSIDE RESORTS WORLD PEOPLE ENTERING CASINO / TICKET CHECKER PEOPLE WALKING IN RESORTS WORLD PEOPLE TAKING PHOTOS IN FRONT OF UNIVERSAL GLOBE SIGN ROLLER COASTER IN FRONT OF CASTLE IN UNIVERSAL MAIN STREET IN UNIVERSAL SIGNS ALONG MAIN STREET PEOPLE INSIDE UNIVERSAL MAIN STREET
- Embargoed: 29th July 2020 07:52
- Keywords: COVID-19 Genting Resorts World Sentosa Singapore Universal Studios coronavirus economy layoffs lockdown pandemic staff cuts
- Location: SINGAPORE
- City: SINGAPORE
- Country: Singapore
- Topics: Health/Medicine
- Reuters ID: LVA001CMX4VBH
- Aspect Ratio: 16:9
- Story Text: Resorts World Sentosa, one of Singapore's biggest private sector employers, on Wednesday (July 15) said it was laying off staff to cut costs as the coronavirus pandemic batters the city-state's tourism industry.
The company, owned by Genting Singapore Ltd, did not disclose how many jobs will be lost, but the local Straits Times newspaper said the cuts were "significant".
Resorts World Sentosa employs 12,500 and its facilities, spread over 49 hectares, encompasses a hotel, a casino and a Universal Studios theme park among other attractions.
"We have made the difficult decision to implement a one-off workforce rationalisation," it said in a statement.
Singapore's economy plunged into recession in the second quarter, shrinking a record 41% from the previous quarter, data showed on Tuesday (July 14), putting it on track for its deepest slump ever. The tourism industry, which contributes about 4% to Singapore's economy, has been one of the worst affected sectors due to travel restrictions and a lockdown that lasted more than two months to curb the spread of COVID-19.
Singapore's National Trades Union Congress added said that it was working with Resorts World Sentosa on compensation terms, and would help affected employees with training and finding new jobs.
The company had only announced last year it would invest about S$4.5 billion ($3.2 billion) to expand its tourist attractions in the city-state. Shares of Genting Singapore, majority owned by Malaysian conglomerate Genting Berhad, were up about 1% in line with the broader market.
(Production: Joseph Campbell)
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