Makati Shangri-La on Wednesday announced that it would close temporarily starting next month due to continued low business levels caused by the pandemic.
Read the full statement below.
"Throughout the unprecedented COVID-19 pandemic, our priority has been to preserve as many jobs as possible for our teams.
To mitigate the financial impact brought about by the pandemic, multiple cost management initiatives have been implemented including salary reductions at management level, implementing shorter work weeks, hiring freeze and cuts in non-essential spending.
At the same time, for the past 10 months, we have provided assistance for our rank and file to help them through these challenging times.
Despite our best efforts, the prolonged recovery timeline has resulted in increasing financial pressure on the company here in the Philippines.
Owing to continued low business levels and having considered all viable options over weeks of consideration, we unfortunately must now make the extremely difficult decision to reorganise our workforce and operations in the Philippines as we continue to navigate an uncertain business environment.
As part of the reorganisation exercise, we will be sadly be parting ways with a number of colleagues and we will be temporarily closing Makati Shangri-La Manila.
Our employees take tremendous pride in their work and we greatly value their hard work, dedication, and contributions. Every effort is being made to support all our affected colleagues through this transition, including providing a fair compensation package that is higher than the local statutory guidelines and extending healthcare coverage and grocery support until 31 December 2021 to provide affected employees and their families peace of mind during these uncertain times. We are also providing colleagues with career transition assistance to help them get back on their feet.
For close to 30 years, the Shangri-la Group has enjoyed strong support here in the Philippines. We are greatful for this and would like to assure everyone we remain deeply committed to our presence here in the market at a later date when business conditions have improved."
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Besides its Makati branch, Shangri-La also operates Edsa Shangri-La in Ortigas Centre, Mandaluyong City, Manila Shangri-La at the Fort in Taguig City, the Shangri-La Boracay Resort and Spa, and Shangri-La Mactan Resort and Spa in Cebu.
