Resorts World Sentosa, the Singapore integrated resort owned and operated by Genting Singapore, has revealed it is laying off some staff as part of cost-cutting measures to combat the impact of COVID-19.
According to a report by The Straits Times, RWS did not disclose how many of its 7,000 employees would be impacted, however the cuts are said to be “significant.” Other reports suggest the number is in the vicinity of 2,000.
“We have made the difficult decision to implement a one-off workforce rationalization,” the company said in a statement.
Singapore’s National Trades Union Congress, which is working with RWS on compensation terms for affected workers, added, “The COVID-19 pandemic’s impact on the tourism industry is unprecedented, immediate and immense.”
It was revealed earlier this week that Singapore fell into recession in 2Q20, with Gross Domestic Product falling 12.6% compared with the same period in 2019.
Genting Singapore previously announced a 36% year-on-year decline in first quarter revenue to SG$406.9 million and 55% fall in Adjusted EBITDA to SG$146.9 million.
The lay-offs come with RWS in the midst of a US$3.3 billion expansion, announced last year, which will add 1,100 hotel rooms, an extra 50% of gaming floor area and multiple new non-gaming attractions.
