Galaxy Entertainment Group Ltd. announced last Friday that it is giving a little something extra to a large percentage of its non-management staff. The company said that it will give a “one-off special discretionary bonus” to about 97% of the employees, all of whom hold positions of senior manager or lower. The exact number of employees that would receive the bonus, however, was not mentioned.
The bonus will be equal to one month’s base salary. Where applicable, guaranteed tips will also be included. Galaxy intends on making the payments on August 13 and those qualified employees who joined the company on or after August 2, 2017, will have their bonuses calculated on a pro-rate basis.
According to Galaxy, “This one-off special discretionary payment is made in special consideration of market competitiveness and the company’s satisfactory business performance in 2018.” Galaxy saw its first-quarter 2018 EBITDA (earnings before interest, taxation, depreciation and amortization) increase by 36%, reaching $548 million.
However, Galaxy executives may not necessarily be motivated simply by the increased performance. A labor activist group said last week that it was organizing a petition by Galaxy staff to push for a summer bonus. The petition was drafted over concerns by Galaxy employees that they would not receive their annual bonuses this year.
Wynn Macau announced a similar bonus on July 13 that is equal to one month of an employee’s salary. That bonus is only for non-executive staff and will paid on August 15, but Wynn said that 95% of its workforce was eligible. From 2014 to 2017, Wynn offered a bonus program for all non-senior management personnel that was paid twice annually. However, there was no indication if this latest bonus is a continuation of that plan, or if it was just a one-time payment.
A discretionary bonus was paid to eligible Galaxy employees this past February for anyone at a senior manager level or below. That bonus was also equal to one month’s salary. At the same time, the company announced that it would increase salaries for eligible employees as of April 1, with the increase ranging from 2.5% to 8% for employees earning up to $3,000. Employees who earn more than $3,000 were entitled to a 2.5% increase only.
