SJM Holdings Limited revealed that some of its employees will be receiving a living subsidy bonus. The bonus payments will be done in two equal installments this month and in July.
Eligible SJM Employees to Receive Living Subsidy Bonus
SJM Holdings Limited, which is the holding company of Sociedade de Jogos de Macau, S.A. (“SJM”) has announced that it will pay a “Living Subsidy” bonus for its eligible employees this week. The living subsidy bonus will be paid in two equal installment payments this month and in July. This month’s payment will be completed on Wednesday this week, January 6.
In 2014, SJM launched the living subsidy scheme which served as a “guaranteed allowance” for the company’s employees. The announced payments are in fact a part of the company’s bonus scheme applicable from 2020 through 2022. Before this month’s planned payment, eligible employees received a living subsidy bonus last year in July.
“We would like to thank our staff members for their diligent work and dedicated support amidst the challenges of the COVID-19 pandemic,”
SJM Chairman, Daisy Ho
Eligible employees who would receive the bonus are in two categories depending on their income. Employees in the first category, earning monthly salaries under MOP$20,000, would receive two extra months’ salary. On the other hand, employees who receive more than MOP$20,000 would be receiving either a cash bonus of MOP$40,000 or one-and-a-half month’s salary as a part of the living subsidy bonus.
The Company Thanked Its Employees for Their Hard Work and Dedication
In a statement, Daisy Ho, SJM Chairman, thanked the company’s employees for their hard work and support during the unprecedented challenges brought by the COVID-19 pandemic. Furthermore, she revealed that SJM fully supports the measures taken by the Macau SAR Government to reduce the spread of COVID-19. In conclusion, Mrs. Ho said that the company stands in solidarity with the Macau people in safeguarding the health and safety of the community.
Although the company’s flagship property in Macau is the Grand Lisboa casino hotel, a new integrated resort known as Grand Lisboa Palace at Cotai is expected to open for visitors later this year. The new resort, which is currently under construction is expected to feature approximately 1,900 hotel rooms and has a price tag of HK$39 billion (US$5 billion).