Layoffs began in January, soon after the company filed for liquidation.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.-\u00a0Genting Hong Kong\u00a0<\/strong>has dismissed at least 60 employees in Singapore since January due to its financial crisis. According to local media reports,\u00a0layoffs were carried out in phases <\/strong>with the latest made this week. Affected workers reportedly received an email telling them that their employment had been concluded.<\/p>\n\n\n\n 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.<\/p>\n\n\n\n Genting Hong Kong and\u00a0Dream Cruises<\/a>\u00a0are not union companies. According to the Labor Department, non-union employers should offer flat layoff wages of between one and three months.<\/p>\n\n\n\n Genting Hong Kong\u00a0<\/strong>filed for liquidation<\/a>\u00a0after a German court rejected a request to release US$88m in funds for its German shipyard unit MV Werften. Soon afterwards,\u00a0Tan Sri Lim Kok Thay<\/a> stepped down as CEO\u00a0of the company. Meanwhile, Colin Au has resigned as deputy chief executive officer, group president and executive director.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Layoffs began in January, soon after the company filed for liquidation.<\/p>\n","protected":false},"author":176,"featured_media":20335,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Hong Kong has commenced significant layoffs in Singapore, dismissing at least 60 employees since January, following its filing for liquidation. This financial distress, triggered by a German court's rejection of a US$88 million fund release for its MV Werften shipyard unit, has also led to executive resignations and issues with pro-rata salary and leave compensation for affected staff.","focusai_entities":"Genting Hong Kong, Dream Cruises, MV Werften, Tan Sri Lim Kok Thay, Colin Au, Labor Department","focusai_location":"Hong Kong, Singapore, Germany","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.9), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.92)","focusai_suggestions":[{"label":"Liquidation Impact","query":"What are the broader implications of Genting Hong Kong's liquidation on the remaining entities within the wider Genting Group, particularly concerning brand equity and potential cross-default risks?"},{"label":"Employee Compensation Enforcement","query":"How will the Singaporean Labor Department's guidelines for non-union employers regarding layoff wages be enforced given Genting Hong Kong's reported failure to provide severance pay?"}],"footnotes":""},"categories":[157,16338],"tags":[23716],"class_list":["post-27970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-genting-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27970","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=27970"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27970\/revisions"}],"predecessor-version":[{"id":27979,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27970\/revisions\/27979"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20335"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}