Suncity to offer up to 15-months’ salary for exit package

Macau’s junket investor Suncity Group Ltd will provide exit bonuses for staff who have signed up for the group’s voluntary resignation package, according to a report published by GGR Asia yesterday.
In an e-mailed reply to GGR Asia, a spokesperson of Suncity Group said the final tally for the exit bonus could be as high as 15 months’ worth of each employee’s salary — but different amounts would be awarded based on the staff member’s position.
The firm attributed the decision to cut manpower to the adverse impacts of the Covid-19 pandemic and gloomy outlook for the VIP businesses in Macau.
“In order to cope with the changing market environment, the company needs to optimize its structure and reduce manpower,” the group told GGR Asia.
The news about the group’s voluntary resignation program — also dubbed the “Career Re-orientation Plan” — was first circulated across local media in early June.
As stated in an announcement delivered by Suncity’s chairman, Alvin Chau Cheok Wa, to his employees on June 4, the voluntary resignation package will comprise exit bonuses and benefits. Staff aged 60 years or above will enjoy additional allowances and a full refund of their provident fund contributed by the company.
In the release, Chau calls on employees to “proactively consider [the plan], and utilize the time during the pandemic to enrich and reorient their personal life.”
Both the pandemic and China’s tighter control on overseas gaming activities have dealt blows to Macau’s VIP market.
From March 1 this year, China enacted an amended bill to criminalize anyone who “organizes [for] citizens of mainland China to participate in gambling outside the country (or border), which involves a hefty sum or cases with serious consequences.”
Experts commented that the harsher regulation has severely suppressed the business of junkets in Macau, who act as middlemen for high rollers from China.
Earlier in April, Galaxy Entertainment Group Ltd launched its own voluntary resignation program. Under this program, Galaxy will dole out a sum of MOP380,000, together with exit compensation to each pit supervisor from the table games department who is willing to resign on their own accord.
In May, Melco Resorts and Entertainment Ltd also announced the “New Chapter” voluntary resignation program, offering a competitive package for departing staff.

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