SkyCity is ripping off the wage subsidy system.
The subsidy was created for employers to use as an alternative to laying off staff.
SkyCity has manipulated it to make sure they can lay off as many staff as possible while getting the maximum subsidy possible.
The first thing they did was apply for the wage subsidy only for the waged staff and excluded the salaried staff. 200 salaried staff were immediately laid off without a proper process.
The company then announced it was laying off 700 waged staff as well as soon as the initial wage subsidy for 12 weeks ran out. They told all the staff they would not apply for the additional wage subsidy burn needed to simply bite the bullet and lay off staff.
After getting rid of the 900 staff in total they have now applied for the wage subsidy for the remaining staff anyway.
This company has spent decades preying on the weak and vulnerable in society and promoting addictions to make money.
A gambling licence is a legalised form of printing money since a casino ultimately can’t lose.
The executives and shareholders have rewarded themselves with profits in the billions over the two decades. Shareholder wealth has been boosted in recent years with share buybacks that weaken a company’s balance sheet while adding to the pockets of the top one percent in society.
It doesn’t make sense to me for the government to give any private company money unless they give the government a significant shareholding in return so that the government will then benefit from any recovery as a shareholder like the other shareholders will do. If these companies aren’t willing to do that then they should get nothing.
Hey Mike..you do know that John Key isn’t the Prime Minister in charge of all this Covid corporate welfare?
Depressing but now just the morally repugnant way our corporations are encouraged to act by government policy that allows it and not taking them to court over their poor practises.
Also now that we don’t get the convention centre anymore can we remove the gambling incentives they received under John Key?
What a load of rubbish you write
Sky city are operating on line through a off ashore bank and paying no tax I no someone that GAMBLED over 20k in lock down level4
Money laundering is wink, wink, allowed in NZ.
The only reason they prosecuted William Yan for money laundering was that he got involved in Dot com – they were happy not do nothing about the circa 500 million he gambled through Sky city but only acted when he started to invest in Dotcom’s enterprise…. https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11905478
William Yan AKA Bill Liu to keep NZ citizenship despite money laundering conviction
https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11905478
Laundering drugs money not even a crime – we need more money launderers as our essential skills to grow our cash and drug and crime economy . Sarc.
Queen St money remitter discharged after laundering Polish and Russian crime syndicate’s cash
https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12260326
Westpac accused of 23 million money-laundering breaches, including child abuse transactions
https://www.stuff.co.nz/business/money/118853764/westpac-accused-of-23-million-moneylaundering-breaches-including-child-abuse-transactions
Commonwealth Bank of Australia hit with record $700 million fine
https://www.stuff.co.nz/business/world/104455548/commonwealth-bank-of-australia-hit-with-record-700-million-fine?rm=m
“But the leaked documents show that BNZ was confident it would not be pinged by New Zealand authorities and rated the risk of fines as “minor”, though it worried about the public finding out, and its reputation being damaged.”
https://www.stuff.co.nz/business/114664719/bnz-struggled-to-abide-by-antimoney-laundering-laws
Making bank: Big four banks cashing in on New Zealanders
https://www.stuff.co.nz/business/117025775/making-bank-big-four-banks-cashing-in-on-new-zealanders?rm=m
If it was illegal then they would have been prosecuted. Every business has a right to survive and unfortunately that means laying off some staff when times are hard. By law they had to pass the subsidy on to staff so if anything they have helped those staff that were layed off by giving them more than labour would have if they had lined up at winz earlier. Would you rather they went under and lay off everyone?
“My statement is 100% factually correct”
Fuck, you are a legend in your own undies Jays. Where’s your evidence? Your narcissistic comments render you totally pathetic.
The scheme was set up as it was intended, to support business and employees as an opportunity to get through the tough times. The scheme was fine for the honest businessmen.
Go back and read the column slowly, take in the points raised and give yourself an uppercut, then go and vote for the Jays Ego party.
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