Okada Manila to lay off over 1,000 workers due to severe losses

Ralf Rivas

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Okada Manila to lay off over 1,000 workers due to severe losses
Affected Okada Manila workers will receive notices starting June 15 and will receive separation pay

MANILA, Philippines – Luxury resort and casino operator Okada Manila will be laying off more than 1,000 employees, as its losses deepen due to the coronavirus pandemic.

In an email to employees on Tuesday, May 26, Okada Manila said it will be reducing its workforce through a retrenchment program.

“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,” Takashi Oya, president of Okada Manila, said in the email.

The 5-star hotel and casino added that it will “change the way it does business,” as the virus forced it to reduce its workforce. (READ: Thousands may lose jobs due to COVID-19 impact on business – TUCP)

Affected workers will receive notices starting June 15 and will receive separation pay.

“For those who will remain, they will continue to build Okada Manila’s readiness to the new normal and provide the same 5-star experience that it is known for,” Oya said.

Okada Manila is among the companies in the country forced to reduce their workforce, as the Philippines goes through a recession. (READ: DOLE issues guidelines for employers amid coronavirus outbreak)

Its social responsibility arm, Okada Foundation, earlier pledged to donate P50 million to support the Lung Center of the Philippines and the Philippine Heart Center amid the pandemic. – Rappler.com

 

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Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.