Genting Hong Kong lays off over 60 employees in Singapore

Genting Hong Kong is facing a severe financial crisis.
Genting Hong Kong is facing a severe financial crisis.

Layoffs began in January, soon after the company filed for liquidation.

Hong Kong.- Genting Hong Kong has dismissed at least 60 employees in Singapore since January due to its financial crisis. According to local media reports, layoffs were carried out in phases with the latest made this week. Affected workers reportedly received an email telling them that their employment had been concluded.

Although most employees were not owed wages, The Straits Times has reported that Genting Hong Kong still owed some pro-rata salaries and compensation for unused annual leave days. It said no severance pay was provided to employees.

Genting Hong Kong and Dream Cruises are not union companies. According to the Labor Department, non-union employers should offer flat layoff wages of between one and three months.

Genting Hong Kong filed for liquidation after a German court rejected a request to release US$88m in funds for its German shipyard unit MV Werften. Soon afterwards, Tan Sri Lim Kok Thay stepped down as CEO of the company. Meanwhile, Colin Au has resigned as deputy chief executive officer, group president and executive director.

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Genting Hong Kong