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KUALA LUMPUR, June 17 — Some 3,000 jobs are expected to cut at Genting Malaysia Berhad, according to a report by financial daily The Edge.

Quoting unnamed sources, the report claimed that downsizing measures have already begun at the hospitality and casino company.

Genting Malaysia, employers to more than 20,000 staff in 2019, according to the report, has yet to respond to queries seeking to clarify the claim.

In April, Genting Malaysia, for the first time since its formation in 1965, undertook company-wide pay cuts to weather the economic storm brought on by the Covid-19 pandemic.

A month later, the group’s management team then announced it would be taking a 20 per cent pay cut in accordance with austerity measures introduced amid the ongoing pandemic.

Then, on May 25, the company announced it would undertake mutual and voluntary separation schemes for its employees.

The announcement had been made through an internal memo by senior vice-president of human resources Quan Cher Siong later sighted by Malay Mail, who said the company had to assess and recalibrate its cost structure, including staffing needs, based on both current and anticipated future operating capacities.

Today’s report did not mention if any retrenchment scheme would be offered to Genting Malaysia’s outgoing staff.

Additionally, the report by The Edge today detailed how the company’s shares had surged 1.9 per cent as of this morning, while Genting Bhd rose 1.6 per cent and were among the biggest gainers in the benchmark FTSE Bursa Malaysia KLCI index that declined 0.2 per cent.

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PETALING JAYA: Resort-owner Genting Malaysia Bhd is to cut jobs and restructure its operations because of the loss of business caused by restrictions to control the Covid-19 pandemic.

Genting owns resort hotels and a casino at Genting Highlands and resorts in Langkawi and Terengganu. All hotels in Malaysia have been closed since March 18 as part of a national shutdown to stop Covid-19 infections.

A senior vice-president, Quan Cher Siong, was quoted in a media report today as saying that the company had to restructure its Malaysian operations, which would mean “retrenching surplus labour, offering voluntary separation and mutual separation schemes”.

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He was reported to have said in an internal memo to employees that the company expected business recovery to be very challenging. “When business operations resume, we will face challenges to regain the level of business our company saw prior to the pandemic,” he said.

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In a quarterly report to the stock exchange on Thursday, Genting Malaysia reported a net loss of RM417.96 million because of business disruptions in its worldwide operations.