{"id":7747,"date":"2020-07-01T22:24:54","date_gmt":"2020-07-01T22:24:54","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=7747"},"modified":"2026-04-24T03:59:24","modified_gmt":"2026-04-24T06:59:24","slug":"sjm-to-pay-living-subsidy-for-staff","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sjm-to-pay-living-subsidy-for-staff","title":{"rendered":"SJM to pay living subsidy for staff"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The bonus equals either one-and-a-half or two months&#8217; salary paid in two equal instalments.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Macau.- Casino operator Sociedade de Jogos de Macau (SJM) will pay a \u201csummer living subsidy\u201d to its employees.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Workers were informed by an internal memo later posted on social media who would be eligible to receive the payment on July 3.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The bonus equals either one-and-a-half or two months&#8217; salary paid in two equal instalments, GGRAsia reported. \u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The operator has decided to pay the \u201csummer living subsidy\u201d even though its <strong><em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-sjm-holdings-casino\" target=\"_blank\">finances were deeply impacted<\/a><\/em><\/strong> by the Covid-19 pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During Q1 of 2020, the group posted a 148 per cent year-on-year drop in net profits to a loss of HK$409 million (US$52.7million).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bonus equals either one-and-a-half or two months&#8217; salary paid in two equal instalments.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau casino operator Sociedade de Jogos de Macau (SJM) has announced a \"summer living subsidy\" for its employees, equivalent to 1.5 to 2 months' salary, despite reporting a significant net loss of HK$409 million in Q1 2020 due to the COVID-19 pandemic. This discretionary expenditure highlights the operator's commitment to employee welfare amidst severe financial headwinds, potentially impacting its near-term profitability metrics.","focusai_entities":"Sociedade de Jogos de Macau, SJM, GGRAsia","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"SJM Q2 Financial Impact?","query":"What is the projected impact of this \"summer living subsidy\" on SJM's Q2 2020 financial results, specifically on its operational expenditure, EBITDA margins, and overall liquidity, given the Q1 net loss and ongoing market challenges?"},{"label":"Macau HR Strategy Comparison?","query":"How does SJM's decision to issue a substantial employee bonus, despite significant financial losses, align with or diverge from the human capital management and cost-containment strategies implemented by other major concessionaires within the highly competitive Macau gaming vertical?"}],"footnotes":""},"categories":[157,16338],"tags":[257,6942],"class_list":["post-7747","post","type-post","status-publish","format-standard","hentry","category-business-news","category-east-asia-news","tag-macau","tag-sjm"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7747","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=7747"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7747\/revisions"}],"predecessor-version":[{"id":7768,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7747\/revisions\/7768"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=7747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=7747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=7747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}