Melco Resorts has announced a voluntary redundancy programme offering up to 12 months salary to allow staff to \u201cpursue new objectives and priorities\u201d\u00a0<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Melco<\/a>\u00a0Resorts & Entertainment\u00a0<\/strong>has announced the launch of several programmes for voluntary extended leave or voluntary redundancy.<\/p>\n\n\n\n The “New Chapter” voluntary exit programme offers Melco\u00a0employees up to 12 months base salary with guaranteed tips to exit the company to seek other opportunities<\/strong>.<\/p>\n\n\n\n Employees can also apply for a special leave arrangement on 40 per cent\u00a0<\/strong>of monthly salary for between six and twelve months, with permission to work elsewhere. At the end of the special leave arrangement,\u00a0employees would return to their role at Melco.<\/strong><\/p>\n\n\n\n Melco<\/a>\u00a0recently reported a decrease in revenue<\/strong> of 36 per cent\u00a0<\/strong>year-on-year for the first quarter of the year, down from US$810m to US$520m.<\/p>\n\n\n\n In April\u00a0Macau authorities<\/a>\u00a0reported\u00a0that the unemployment rate reached 2.9 per cent<\/strong>, surpassing 2009-2011 levels when the city was impacted by the global financial crisis.<\/p>\n\n\n\n Macau is\u00a0highly dependant on the tourism and gaming industries<\/strong>. Analysts have suggested in recent months that Macau should consider\u00a0online gambling<\/a>\u00a0and include requirements for operators to invest in diversification as part of the retendering process for\u00a0gaming licences<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Melco Resorts has announced a voluntary redundancy programme offering up to 12 months salary to allow staff to \u201cpursue new objectives and priorities\u201d\u00a0<\/p>\n","protected":false},"author":176,"featured_media":17574,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Melco Resorts & Entertainment has initiated voluntary redundancy and extended leave programs in Macau, offering up to 12 months' salary, in response to a 36% year-on-year revenue decline in Q1. This move coincides with Macau's unemployment rate reaching 2.9%, prompting analysts to suggest the region consider online gambling and diversification requirements for future gaming licenses.","focusai_entities":"Melco Resorts & Entertainment, Melco","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Melco OpEx Impact","query":"What is the projected impact of these voluntary redundancy and leave programs on Melco Resorts' operational expenditure and NGR in the subsequent fiscal quarters?"},{"label":"Macau Regulatory Shift","query":"How might Macau's government respond to analyst suggestions regarding the integration of online gambling and diversification mandates within the upcoming gaming license retendering framework?"}],"footnotes":""},"categories":[157,16338],"tags":[23906,18488],"class_list":["post-17560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos","tag-melco-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=17560"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17560\/revisions"}],"predecessor-version":[{"id":17590,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17560\/revisions\/17590"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17574"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=17560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=17560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=17560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}