GENTING SINGAPORE PLC
G13.SI
Genting: RWS said to be letting 400 staff go
- Genting Singapore (GS) was reported to have slashed about 400 jobs – mainly coupiers, supervisors and pit managers – under a down- sizing plan that started in May; this as it manages its headcount of 12k staff to meet its business needs.
- According to RWS, it has been working closely with the Ministry of Manpower (MOM) and the Attractions, Resorts & Entertainment Union (AREU) to ensure that fair terms are extended to all affected staff.
- GS did not reveal the cost of the exercise, but we believe this will likely to be reflected in the 2Q16 results.
- For now, we have a HOLD rating on the company with a S$0.72 fair value.
Carey Wong CFA
OCBC Securities
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http://www.ocbcresearch.com/
2016-06-13
OCBC Securities
SGX Stock
Analyst Report
0.72
Same
0.72
