Genting-owned RWS announces significant layoffs
Resorts World Sentosa (RWS), a Singapore integrated resort operated by Genting Singapore, has announced it will be laying off staff.
The decision was spurred by the lack of tourism due to the COVID-19 pandemic. For confidentiality reasons, the group didn’t reveal the exact number of jobs lost, but the cuts are said to be “significant”, with some sources saying the group might be letting go close to 2,000 employees (out of 7,000).
RWS explained: “Over the past few months, we have reviewed all costs, eliminated non-essential spending, and reduced the salaries of management by up to 30%.”
After considering other outcomes, the group implemented “a one-off workforce rationalisation.”
RWS is working with Singapore’s National Trades Union Congress to properly compensate the affected employees, as well as help them find new jobs.
Congress also added: “The COVID-19 pandemic’s impact on the tourism industry is unprecedented, immediate and immense.” Singapore’s Gross Domestic Product dropped by almost 13% compared to the same period last year, and the country fell into recession in Q2 2020.
Despite the job cuts and the losses in revenue for Genting Singapore during Q1 (a 36% decline compared to last year), RWS maintains its commitment to expanding the venue based on the agreement signed with the Singapore Government last year.
RWS said it aims to “redesign jobs across the resort with technological innovation enhancing day-to-day processes” while maintaining the “health, safety and well-being” of the guests.
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