The economic outlook remains a concern both in Singapore and globally.
Following the announcement by Ministry of Trade and Industry (MTI) that the economy has shrunk by 41.2 per cent in the second quarter, the Resorts World Sentosa (RWS) said that it will be letting go some of its staff amid this trying period.
Streamline operational resources in response to "devastating impact" of Covid-19
In a media release by RWS from July 15, it shared that the Covid-19 pandemic has generated a "devastating impact" on the tourism industry.
As a result of its "pervasive and lasting effects", the tourism industry will require significant adjustments by all travel and tourism players, including RWS.
In an attempt to reshape the business, RWS has streamlined its operational resources to stay agile and respond quickly to situations that develop during this "unpredictable climate".
"Over the past few months, we have reviewed all costs, eliminated non-essential spending and reduced the salaries of management by up to 30 per cent."
Decision to let go of staff
However, in its latest round of review, RWS has made the "difficult decision" to implement a one-off workforce rationalisation.
It said that this decision was made after a thorough process of careful deliberation and consultation.
"We fully understand the difficulty and anxiety this means to impacted team members and their families. RWS takes a long-term view of our manpower needs, including the consideration to maintain a strong Singaporean core."
Retained vast majority of local staff
While RWS is unable to reveal the number of staff being retrenched, the statement stated that it has managed to retain a vast majority of local staff and departing team members will receive "fair compensation".
RWS is also working together with the government to identify possible job opportunities for its retrenched staff.
"Our human resources team is working closely with the Ministry of Manpower, Attractions, Resorts & Entertainment Union (AREU) and Singapore National Employers Federation to ensure the exercise is carried out in a responsible, transparent and sensitive manner."
Helping staff to find jobs
RWS is also partnering the Employment and Employability Institute (e2i), Public Service Division (PSD), Workforce Singapore (WSG) and SkillsFuture Singapore (SSG) to pre-identify and match job openings to team members based on their skills and experience.
At least two or three job opportunities have been successfully identified and shortlisted for every affected local team member.
Resorts World Sentosa is an integrated resort on the island of Sentosa.
Some of its attractions include Universal Studios Singapore, Adventure Cove Water Park and S.E.A. Aquarium.
Top image from Resorts World Sentosa.