Philippines integrated resort Okada Manila has informed its team that more than 1,000 employees will be made redundant due to the ongoing suspension of operations from COVID-19.
In an internal company memo dated 26 May 2020 and seen by Inside Asian Gaming, Okada Manila President Takashi Oya said the company will reduce its workforce via a retrenchment program, with affected employees to start receiving their notice from 15 June. All will receive separation pay in accordance with Philippines law.
“It is a reality that the company could not escape because of the new normal that lies ahead of us,” Oya explained.
“Not having any revenues since the lockdown has been financially draining and caused severe losses to the company, and if this is not addressed, its losses will pile up.
“Okada Manila is also constrained to change the way it does business, which means it will just require a smaller workforce. For it to remain a viable business, we will have to let go of more than 1,000 employees.”
Like its Manila peers – Solaire Resort & Casino, City of Dreams Manila and Resorts World Manila – Okada Manila has been closed ever since a directive was issued by gaming regulator PAGCOR on 15 March. That directive followed the implementation of Enhanced Community Quarantine (ECQ) measures across Metro Manila by Philippines President Rodrigo Duterte, later extended to cover the entire main island of Luzon.
While ECQ has been eased in some parts of the capital, casinos have been given no definitive timeline as to when they might be allowed to reopen for business.