Macau SJM confirms 2021 living subsidy for employees
The subsidies will be paid “in two equal payments in January and July respectively, with the first payment to be made on 6 Jan 2021,” said the company.
SJM statement quoted Ho Chiu Fung, chairman of the board of directors, as saying: “We would like to thank our staff members for diligent work and dedicated support amidst the challenges of the pandemic.”
Hong Kong-listed casino firm SJM Holdings Ltd says it will be paying its eligible employees what it termed “living subsidies” equivalent to “two months or 1.5 months” of salary.
The SJM press statement did not specify what categories of employees were eligible for the living subsidies. SJM Holdings’ current flagship property in the Macau market is the Grand Lisboa casino hotel . The firm is expected to launch its Cotai casino resort scheme, Grand Lisboa Palace, later this year.
Eligible employees of SJM earning a monthly salary of MOP20,000 (US$2,505) or below will be entitled to a bonus equivalent to two months of salary, according to an internal memo. Staff earning above MOP20,000 will be entitled to one-and-a-half months of salary, or MOP40,000, whichever is higher.
SJM “living subsidy” scheme was launched in 2014, in what the company described as a “guaranteed allowance” for its employees. In August 2014, SJM Holdings had pledged to retain its bonus scheme until at least the year 2020.
