Wynn Macau recently announced that 90 percent of employees at the management level have agreed to a cut in salary, provided they are given shares of equal value.
But according to Inside Asian Gaming, the Macau Labor Affairs Bureau (DSAL) contends that no enterprise may substitute shares for cash payroll, but must pay in cash in Macau patacas under the city’s Labor Relations Law.
The DSAL stated: “If the employee and the employer have agreed the remuneration payment is settled in a non-cash format, it does not fit the aforementioned legal requirements. According to Labor Relations Law Article 14 Item (3), this related agreement will be considered non-existent.”
However, the bureau added that it would be acceptable for employees and employers to agree to a compensation plan that includes a non-monetary form of payment.
In a statement last Tuesday, Wynn Macau noted that it has “maintained close communication with the Labor Affairs Bureau to ensure that all procedures are in compliance with the law.”
The operator asked management-level staff to accept 10 percent of their monthly base salary in return for shares. In an email to GGRAsia, Wynn called the proposed plan “a gesture of appreciation” for workers agreeing to a “voluntary temporary salary reduction from June to December 2022.”
