UPDATE MARCH 18: Las Vegas Sands employs approximately 9,300 team members at The Venetian Resort Las Vegas, that includes The Venetian, The Palazzo, Venezia towers and corporate offices.
Wednesday, the company announced the following:
-No layoffs or furloughs are being contemplated. All of our team members will be paid during this mandated 30-day closure.
-The current resort closure will not impact health care eligibility. There will be no changes to existing healthcare benefit plans. In the event that work hours are reduced, benefit eligibility will not be affected by any reduction.
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-All full time and full time flex, and hourly Team Members will be paid a minimum of 32 hours a week, whether working on the schedule, working from home or are just not scheduled and confined to home.
-All On-Call Hourly Team Members will be paid based on the average hours worked in February 2020 up to a maximum of 32 hours per week. This will apply even when not scheduled to work at all while resort is closed.
-The company recognizes that many hourly Team Members rely on tips, and has calculated an hourly rate to compensate these employees for some of their lost tip income.
-Salaried individuals will continue to be paid as normal.
-No Team Members will be required to take unpaid time off.
-Team Members can use previously accrued flex (vacation) time on a "use 2 get 1 free" basis.
-For essential Team Members including who are working through this closure, box lunches will be provided. These areas include: security, HVAC, fire command, central plant, life safety and others.
-The company also announced it is donating a total of $250,000 to several important local organizations to serve our community during this time of need. Those organizations include Three Square Food Bank, Communities In Schools and Share Village Las Vegas. In addition, the company plans to bolster that financial support with donations of meals and needed equipment.
ORIGINAL STORY
Las Vegas Sands has announced that they will be closing The Venetian Resort Las Vegas, which includes The Palazzo and The Venetian Towers at 2 p.m. March 19.
Las Vegas Sands also announced "No layoffs or furloughs are being contemplated and the closure will not impact health care eligibility."
Las Vegas Sands (NYSE: LVS) today announced that, out of an abundance of caution and in line with recent guidance from federal and state governments, it is closing its Venetian and Palazzo resorts in Las Vegas until at least April 1.
A decision on whether to extend the closure or re-open will be made at a later date. The process of closing the properties will begin immediately and be completed as soon as possible. The company said it is committed to paying its team members while the buildings are closed. No layoffs or furloughs are being contemplated and the closure will not impact health care eligibility the company stated.
“These are clearly challenging times for our country and our community. We are in the hospitality and entertainment business and our team members work very hard to provide a great experience for the thousands of people who come through our doors daily.
However, our most important commitment is the one we have made to the health and safety of our team members and guests. Right now, the best way to fulfill that commitment is by asking people to not come to work. While we hope this closure is a short-term necessity, we are realistic it may be a prolonged event.
Our team members and their families will rightly be concerned about their health and safety, but we do not want them worried about their jobs, income or health care.
Like we have done in the past, we are fully prepared to support our team members over an extended period should it be needed,” said Rob Goldstein, president and chief operating officer of Las Vegas Sands.
The company also announced it is donating a total of $250,000 to several important local organizations to serve our community during this time of need. Those organizations include Three Square, Communities In Schools and Share Village Las Vegas. In addition, the company plans to bolster that financial support with donations of meals and needed equipment.
The team member dining rooms will close first at 11:59 p.m. March 17 and they will provide boxed lunches and water.
All full-time and full-time flex members will be paid a minimum of 32 hours a week.
All on-call hourly team members will be paid based on average numbers of hours worked up to 32 hours per week.
MGM Resorts, Cosmopolitan and Wynn Resorts are closing. Other properties are cutting back some operations. Click here for a list.
