Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Genting Casinos UK, the UK subsidiary of Genting Malaysia, the global leisure and entertainment business, has announced plans to cut 1,642 jobs at hotels and clubs across the UK. According to the GMB trade union, Genting is also planning to close three clubs in Bristol, Margate and Torquay.
A spokesperson for the company said Genting had faced 'unprecedented challenges and heavy losses'Â caused by the Covid-19 pandemic. The spokesperson added that the company hoped to rehire employees at a later date.
A representative of the GMB trade union said the job cuts were 'outrageous', considering that Genting had benefitted from the UK government’s Coronavirus Job Retention Scheme, which covers 80 per cent of the wages of employees placed on temporary leave.
Genting Casinos is one of the largest casino operators in the UK, with 42 clubs and two online casino games websites.
Eurofound (2020), Genting Casinos UK, Internal restructuring in United Kingdom, factsheet number 101568, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101568.