Genting Malaysia introduces salary cuts due to COVID-19 losses

imagesource:aladyofliesure
imagesource:aladyofliesure

The repercussions of COVID-19 do not seem to get over. The Genting Malaysia Bhd has announced of another round of salary cuts to cover the losses incurred during pandemic.

The President and COO Datuk Sri Lee Choong Yan has written a letter to the employees, seeking an agreement to alter the contract temporarily in order “to give effect to a reduction in monthly base salary”.

The temporary reduction is estimated to be around 15 to 20 percentage for the employees, given that the the group’s senior management team has taken a temporary voluntary 20% salary cut for three months.

As per Gambling Insider, a statement by the Group read: “We need to control RWG’s (Resorts World Genting’s) cost base to ensure the sustainability of our business and to help protect as many jobs as possible during this challenging time.”