{"id":18712,"date":"2021-06-07T16:38:37","date_gmt":"2021-06-07T16:38:37","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18712"},"modified":"2026-04-23T18:50:07","modified_gmt":"2026-04-23T21:50:07","slug":"nagacorp-confirms-cut-jobs-due-to-economic-crisis","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/nagacorp-confirms-cut-jobs-due-to-economic-crisis","title":{"rendered":"NagaCorp confirms cut jobs due to economic crisis"},"content":{"rendered":"\n<p>NagaCorp has confirmed dismissals and pay cuts due to the impact of the Covid-19 pandemic and the closure of NagaWorld since March.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Cambodia.- <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/cambodia-nagacorp-to-cut-600-jobs\">NagaCorp<\/a>\u00a0has confirmed plans to reduce pay and lay off employees<strong> in order to improve cost efficiency<\/strong> due to the impact of the Covid-19 pandemic.<\/p>\n\n\n\n<p>The company has launched a\u00a0rationalisation programme that it says will<strong>\u00a0help deliver continued financial stability<\/strong>\u00a0over the long term.\u00a0NagaCorp said close to\u00a0<strong>600 employees will lose their positions<\/strong>.<\/p>\n\n\n\n<p>The company said: &#8220;We believe that<strong>\u00a0it is important for the Group to maintain operational and financial flexibility\u00a0<\/strong>to ensure that it remains focused and efficient during this period.\u00a0<\/p>\n\n\n\n<p>&#8220;To reduce the impact on our employees, the Company will<strong>&nbsp;provide affected employees with enhanced termination compensation<\/strong>&nbsp;over and above payments required by the applicable Cambodian laws to assist their transition into other career or business interests.&#8221;&nbsp;<\/p>\n\n\n\n<p>Due to an increase in Covid-19 cases in Cambodia,\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/cambodia-nagaworld-closed-as-employees-test-positive-for-covid-19\">NagaWorld<\/a>\u00a0<strong>temporarily suspended operations on a voluntary basis on 2 March 2021<\/strong>. It has not reopened since.<\/p>\n\n\n\n<p>To\u00a0<strong>minimise its cash expenditures<\/strong>, NagaCorp has taken a series of actions, including scaling back hotel and food and beverages operations, reducing payroll expenses by limiting staff on-site, and the closure of facilities to reduce utilities expenditure.<\/p>\n\n\n\n<p><strong>Chhun Sokha<\/strong>, union vice president, has said\u00a0<strong>more than 500 employees<\/strong>\u00a0union leaders, activists and members have received layoff notices.<\/p>\n\n\n\n<p>Sokha claimed <strong>NagaCorp\u2019s offer to provide the government with subsidies<\/strong>\u00a0to help Cambodian people during the Covid-19 pandemic was \u201cfake\u201d. She said\u00a0<strong>the company did nothing to help its workers keep their jobs.<\/strong><\/p>\n\n\n\n<p>She added<strong>&nbsp;<\/strong>that those laid off&nbsp;<strong>include pregnant women&nbsp;<\/strong>and recent mothers.<\/p>\n\n\n\n<p>In April,\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/nagaworld-reports-positive-recovery-in-mass-market-for-q1\">NagaWorld<\/a><strong>\u00a0<\/strong>announced it had started to see some<strong>\u00a0signs of recovering during the first three months of the year\u00a0<\/strong>with a<strong>\u00a099.4 per cent increase in average daily mass table game buy-ins\u00a0<\/strong>compared to the first quarter of 2020.<\/p>\n\n\n\n<p><strong>NagaCorp reported average daily volume from electronic gaming machines (EGMs) reached US$5.44m<\/strong>, which represents<strong>\u00a0a 98.5 per cent increase compared to the same period in the previous year<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NagaCorp has confirmed dismissals and pay cuts due to the impact of the Covid-19 pandemic and the closure of NagaWorld since March.<\/p>\n","protected":false},"author":176,"featured_media":18729,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"NagaCorp has initiated a rationalisation programme, including dismissals of approximately 600 employees and pay cuts, to enhance cost efficiency and ensure long-term financial stability following the prolonged closure of its NagaWorld property in Cambodia due to the Covid-19 pandemic. Despite reporting strong Q1 2021 recovery metrics prior to the March closure, the company is implementing these measures to minimise cash expenditures, while a union representative has criticised the company's handling of employee welfare.","focusai_entities":"NagaCorp, NagaWorld, Chhun Sokha","focusai_location":"Cambodia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.9), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"NagaCorp's Q1 Recovery?","query":"What was the specific impact of NagaWorld's March 2021 closure on the previously reported Q1 2021 recovery metrics, particularly regarding average daily mass table game buy-ins and EGM volume?"},{"label":"Labour Law Compliance?","query":"How does NagaCorp's \"enhanced termination compensation\" package compare to standard Cambodian labour law requirements, and what are the potential long-term implications of the union's claims regarding employee welfare?"}],"footnotes":""},"categories":[16336,157],"tags":[2336,21297],"class_list":["post-18712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-nagacorp","tag-nagaworld"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18712","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=18712"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18712\/revisions"}],"predecessor-version":[{"id":18745,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18712\/revisions\/18745"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18729"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}