Mass Layoffs at RW Sentosa

Resorts World Sentosa (l.), operated by Genting Singapore Plc, is reportedly letting go of 400 employees as it seeks to remain profitable in what the company calls “a challenging market.”

Dealers, supervisors, managers on the block

Resorts World Sentosa in Singapore is “reviewing its head count” and “letting go” of a reported 400 workers, according to GGRAsia.

Contacted by the news outlet, parent company Genting Singapore Plc replied that it is “in the process of reviewing its operational resources to ensure it stays relevant in this challenging market.” In a joint statement issued by Genting and Desmond Choo, executive secretary of the Attractions, Resorts and Entertainment Union in Singapore, the company said it is working to “achieve the right size to meet its business needs.”

The Singapore-based newspaper Today reported that the layoffs will affect dealers, supervisors and pit managers. Unnamed sources said 150 croupiers, 200 supervisors and 25 pit managers have been “let go in recent weeks, either via voluntary retrenchment or termination of services.” The publication said the layoffs were the result of a drop in high-roller activity at the resort.

In May, Genting Singapore reported a first quarter net profit of SGD10.8 million (US$7.9 million), a year-on-year decline of 83 percent. Investment bank Morgan Stanley reported VIP volume for the quarter declined 29 percent year-on-year.

The joint statement asserted that Genting and AREU are working together to “ensure fair compensation and treatment” for the affected employees. “We are also offering an upfront SGD1,500 training grant payout for local employees as well as paying their union membership fee for another 12 months. This will enable them to continue to enjoy membership benefits, including support for job searches, training and social benefits.”

The Straits Times reported that the “retrenchment” of the 12,000-member staff started in late May this year.