Operator looking to restructure its business as part of efforts to ride the financial storm created by the Covid-19 pandemic.
Malaysia.- Genting Malaysia is likely to cut jobs as part of efforts to restructure business operations as it fights the financial impact of the Covid-19 pandemic.
With its resorts having been closed since mid-March, the company has already been planning to reduce staff pay to ease the financial burden.
In an internal memo first quoted by Malay Mail, Genting Malaysia’s Senior Vice-President of Human Resources, Quan Cher Siong, said the company had to recalibrate its costing structure.
“During this prolonged closure, our company continues to incur significant losses and the outlook remains uncertain as the pandemic evolves resulting in lower personal disposable income, change in customer behaviour, restrictions on mass gatherings, social distancing requirements and strict operating protocols to protect our customers and employees.
“For these reasons, we foresee our business recovery to be very challenging,” he added.