SJM announces “living subsidy” bonus

SJM Holdings is the last of Macau’s six operators to announce a 2019 bonus, awarding a “living subsidy,” equivalent to either two months, or 1.5 months of salary.

The company claims to be the first to have actually paid out the bonuses, with the first of two equal instalments paid on Jan. 4. The second instalment will be paid in July.

SJM launched its living subsidy plan in 2014.

In addition, employees who participate in the “2018 or 2020 Subsidy-Plus Plan” will receive increased awards based on their accumulated living subsidies when the plan of their choice reaches maturity.

The other six operators have all announced they will award a one-month bonus to all non-management employees. Sands China also announced a salary adjustment which becomes effective March 1, 2019. Full-time team members on a salary of MOP13,000 or less will be given a wage increase of MOP600 per month. Those earning over MOP13,000 a month will be given a flat 2.5 percent pay rise.

 

Latest Intelligence

Latest issue

PATA CEO sees slow recovery, but optimism for future

AGB Podcasts