Gambling tourism suffered a massive hit during government lockdowns aimed at curbing the spread of the fatal novel coronavirus.
Gambling establishments shut down operations for months, causing a massive decline in revenue. The prolonged lockdowns displaced millions of workers across the globe.
Casino employees were among those who lost their jobs during the lockdowns. The nature of the gambling institutions’ business requires the gathering of a large group of people, which poses a high risk of transmission of the deadly virus. Casinos needed to shut down as mandated by state health regulators.
Despite having no operations, many casinos continued paying for taxes, rents, and wages of employees. People were trapped inside their homes, losing the chance to look for alternative sources of income. Many employers offered help by paying the salaries and health insurance of employees for the first months of the lockdown.
Rivers Casino employees face pay cuts as they resume work
Rivers Casino Philadelphia shut down doors to clients for nearly four months since mid-March. The casino announced its reopening plan, adopting many operational changes. Government restrictions will cap the operational capacity of the gambling facility. Rivers Casino will open doors to clients, following strict health and sanitation protocols.
Jack Horner, Rivers Casino spokesperson, wrote in an email that the company fully paid its employees for the first month of the lockdown despite near-zero revenue since it closed shop on March 15. He added that the company continued paying health insurance the whole time. The email also states that returning companies will face reductions on wages not to exceed 15 percent, except hourly workers.
Many companies adopted pay cuts to cushion the impact of the novel coronavirus on their operations. Payroll processor ADP data showed that nearly 11 percent of people who retained their jobs after the pandemic faced wage cuts. Nick Bunker, Indeed Hiring Lab research director, noted that the figure was twice the rate of pay reductions during the 2008-2009 Great Recession.
Employers retain workers instead of laying them off
Mr. Bunker said the current recession produced more problems than the previous, and it has created elevated rates of wage cuts as of the moment. The director said that employers are thinking of ways of retaining their workers instead of letting them go.
Indeed Hiring Lab revealed that job postings this year dropped by 25 percent compared to last years because of the pandemic.
Challenger, Gray & Christmas survey revealed that 30 percent of companies confirmed that they cut wages in response to the pandemic’s impact. The survey also revealed that almost half of the companies avoided laying off employees because of the cuts.
Challenger, Gray & Christmas senior vice president Andrew Challenger said that companies now are avoiding lay-offs to avoid hurting morale.
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