Lockdown restrictions show no sign of easing
An internal memo that Okada Manila issued to staff informing them that the company “will have to let go of more than 1,000 employees” made it to the public. The company’s President Takashi Oya announced that the cause for the layoffs was the complete lack of revenue the property has generated since all Manila-area casinos were ordered to close their doors on March 15.
Takashi Oya indicated that notices to employees who will be laid off will begin to be delivered from June 15, and that those affected will receive a separation payment. Oya said: “For those who will remain, they will continue to build Okada Manila’s readiness to the new normal and provide that same Five Star experience that it is known for.” and added: “The fight is not yet over, but we remain confident that we will triumph over Covid.”
In mid-April, Okada Manila informed its staff that the casino had “taken the needed steps to ensure that during the extended community quarantine, you will be compensated while also having your benefits in effect.” But analysts had already warned back then that Okada Manila would likely need to take “more aggressive mitigation measures” to ensure its survival if the casino was forced to remain shut beyond June.
Metro Manila remains the country’s largest infection hub and the country’s government has ordered one of the longest lockdowns in the world to protect its citizens from the pandemic. Manila will shift from modified enhanced community quarantine (MECQ) to general community quarantine (GCQ) starting June 1.
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