A total of 181 employees at the integrated casino resort in Limassol have lost their jobs, the operator Melco said on Monday, citing the “ongoing conflict in Israel”.
As a result, City of Dreams Mediterranean “has seen a steep drop in hotel occupancy and substantial reductions in international casino visitation”.
This has forced the company “to make difficult decisions in adjustments to its cost structure to ensure its long-term success”.
According to a Melco press release, 130 staff members were made redundant and 51 employees on probation did not have their contracts extended. The developments unfolded between Friday and Monday.
“The rationale for selection was based on an objective principle of ‘Last-In, First Out’ and in compliance with the Cyprus law for redundancies,” the company specified.
Melco added that beyond its legal requirements, it would “offer impacted colleagues additional ex-gratia packages which are beyond the legal minimum and above industry practices”.
“The company is making every effort to help impacted colleagues find alternative employment opportunities with, to date, no fewer than 18 local companies and nine international companies. Further after-care efforts include helping with colleagues’ CVs, interview skills, and other support as needed during this transition.”
The announcement comes after weeks of speculation and reports of “mass firings” that suggested 300 people had lost their jobs in recent weeks.
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