It has been announced that there are to be staffing cuts at casino resort Okada Manila in the Philippines following the global Covid-19 pandemic.
The virus crisis has had a devastating impact on the gaming industry in particular, with many of the world’s major gambling nations being affected considerably.
However, the Philippines is one nation that has been hit particularly hard during the Coronavirus crisis as latest figures show that there have been 14,669 confirmed cases of Covid-19 resulting in 886 deaths so far and only 3,412 of those infected making a recovery.
As a direct result of the virus, the economy in the Philippines has been hit hard despite the government enforcing one of the longest and strictest lockdown measures of any other nation in the world.
During the lockdown, it is reported that there have been around two and a half million job losses across many job sectors and Okada Manila is the latest firm forced to make redundancies as the business remains shuttered.
Reportedly, the company is operating within the law to serve the redundancy notices effective June 2020 in an attempt to mitigate the impact of Covid-19 by reducing the workforce.
Takashi Oya, President of the casino resort stated that the lack of revenue since March 2020 is a contributing factor as there have already been significant losses within the business due to zero gaming activity.
In order to ‘remain a viable business’, the resort is taking measures to reduce its workforce for the foreseeable future, at least until the business recovers from the pandemic and returns to ‘normal’ operation.
Okada Manila is one of the largest employers in the Philippines within the gaming industry. Gambling resorts are a core segment of the Philippines and make a huge contribution to the economy. There are currently around 20 casino establishments in Metro Manila.