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Galaxy opts out of discretionary bonus payment, no annual bonus for execs: Francis Lui

Galaxy Entertainment Group Vice Chairman Francis Lui has revealed the company won’t offer a discretionary bonus to eligible team members at Senior Manager level and below this summer, while it also plans to extend the temporary unpaid leave arrangement to help navigate the COVID-19 pandemic.

Lui announced the news to employees via a short video message this week, noting that the operating environment for Macau’s concessionaires remains pessimistic.

“Hong Kong’s confirmed cases (of COVID-19) have surged and brought uncertainties to business environments and expected recoveries,” he said.

“Although border controls measures between Macau and Guangdong relaxed from 15 July, there is no good news on IVS (Individual Visit Scheme).

“The company expects an unprecedented setback in 2020 earnings. Thus, it is inevitable for the company to make these difficult decisions.”

Macau’s gaming operators have traditionally offered two discretionary bonuses each year, equivalent to one months’ salary, for eligible employees. Galaxy will also delay its annual salary reviews until April 2021.

At the higher end of the scale, executives at Assistant Vice President and above will not be granted an annual bonus this year, while Galaxy will suspend its contributions to employees’ private pension funds until conditions improve.

In relation to the group’s policy of receiving one free day of unpaid leave for each day of paid leave an employee takes, Lui said the policy would now be extended until the end of the year with the company to launch an additional unpaid leave arrangement shortly.

However, he emphasized that such holiday arrangements would remain voluntary.

All temporary policies aimed at easing the impact of COVID-19 would be adjusted in time, Lui said.

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