Embattled cruise ship operator Genting Hong Kong has dismissed at least 60 Singapore-based staff after its local subsidiary, Dream Cruises, suspended sailings earlier this month.
According to a report by The Straits Times, the affected staff represent around half of the company’s Singapore employees. The report claims that while none have any outstanding wages, they are owed pro-rated salary and compensation for unused annual leave days as per local Ministry of Manpower laws.
The layoffs, which began in January when provisional liquidators were appointed to Genting Hong Kong, gathered pace this week with staff receiving emails informing them that their contracts had been terminated and asking them to return company property.
Dream Cruises recently announced that it was suspending all sailings as of 2 March 2022, having been the only one of Genting Hong Kong’s brands to continue sailings after the group entered provisional liquidation in January. Provisional liquidators were also appointed to Dream Cruises in early February.
It said at the time that “despite the continued efforts to source and introduce external funding, the group’s liquidity continues to deteriorate given the absence of sustainable operational income under current challenging circumstances and in the face of mounting creditor pressure which poses an immediate threat to the operation of [World Dream].
“In these circumstances, it has become impossible for the Company to make further financial commitments necessary to enable the World Dream to continue to operate.”
Genting Group Chairman and CEO Lim Kok Thay stepped down as Chairman, CEO and Executive Director of Genting Hong Kong in late January.