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Hong Kong Ocean Park will freeze salaries to avoid lay-offs

01/08/2020| 1:50:04 PM|

Park had already reported last month that its deficit more than doubled to US$72 million in its financial year to June 30.

Hong Kong’s iconic Ocean Park has announced a pay freeze as a sharp decline in visitor numbers in the second half of 2019 and a sluggish economy take their toll on the attraction.

The park said on Friday the freeze, starting from January, was a difficult budgetary decision to make.

“But by forgoing staff raises, the park will avert lay-offs that might otherwise be necessary,” the Aberdeen resort said in a press statement.

The last time the attraction froze all salaries was in 2003 when a deadly outbreak of Severe acute respiratory syndrome (Sars) hit the city.

In 2017, amid an economic downturn, most frontline staff still enjoyed a 1.5 to 2.6 percent pay rise although management did not get an increment.

The latest announcement followed the park last month reporting a widening deficit for the past financial year. The deficit more than doubled to HK$557.3 million (US$72 million) in its financial year to June 30, from HK$236.5 million the previous year – largely as a result of repairs from damage caused by Typhoon Mangkhut, which struck in summer 2018.

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TAGS: Ocean Park | Hong Kong
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