Melco announces voluntary redundancy programme

Melco's Q1 revenue was down 36 per cent year-on-year
Melco's Q1 revenue was down 36 per cent year-on-year

Melco Resorts has announced a voluntary redundancy programme offering up to 12 months salary to allow staff to “pursue new objectives and priorities” 

Macau.- Melco Resorts & Entertainment has announced the launch of several programmes for voluntary extended leave or voluntary redundancy.

The “New Chapter” voluntary exit programme offers Melco employees up to 12 months base salary with guaranteed tips to exit the company to seek other opportunities.

Employees can also apply for a special leave arrangement on 40 per cent of monthly salary for between six and twelve months, with permission to work elsewhere. At the end of the special leave arrangement, employees would return to their role at Melco.

Melco recently reported a decrease in revenue of 36 per cent year-on-year for the first quarter of the year, down from US$810m to US$520m.

In April Macau authorities reported that the unemployment rate reached 2.9 per cent, surpassing 2009-2011 levels when the city was impacted by the global financial crisis.

Macau is highly dependant on the tourism and gaming industries. Analysts have suggested in recent months that Macau should consider online gambling and include requirements for operators to invest in diversification as part of the retendering process for gaming licences.

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