Genting Malaysia Cuts Pay Again as Covid Shut Local Casino
Genting Highlands, outside Kuala Lumpur in September 2020.
Photographer: Mohd Rasfan/AFP/Getty Images
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Casino-to-hospitality giant Genting Malaysia Bhd. is planning another round of salary cuts as it seeks to slash costs amid the prolonged coronavirus pandemic.
Genting Malaysia, a unit of conglomerate Genting Bhd. that’s controlled by Malaysian tycoon Lim Kok Thay, is asking some employees to agree to a temporary reduction of 15% or 20% in basic salary based on their ranks, according to an internal memo dated March 1 seen by Bloomberg News. Some workers are being asked to take one day a week of no pay leave.