KTV Studio Owner Continues To Pay Staff Salaries Despite An Expected S$500,000 Loss During Month-Long Closure

TL;DR

The owner of popular karaoke chain, Teo Heng KTV Studio, pledges to continue paying employee salaries during one month closure due to Covid-19 outbreak.
The owner, Jackson Teo, mentioned that the business is expected to incur a loss of S$500,000 for a month’s long closure.
Jackson Teo also mentioned that he will be sending all of his staff members for training during the month long hiatus.

Hello, foodies. How are all of you holding up? Due to the worsening situation of the Covid-19 outbreak in Singapore, many businesses especially bars and entertainment outlets have been forced to close. Although the regulation serves as a measure to curb the spread of the virus, local businesses are having to deal with a blow to their revenue. But, in these tough times, one Singaporean is still managing to support his employees despite incurring losses.

Teo Heng KTV Studio Owner Continues To Pay Over 100 Employee Salaries During Month-Long Closure

With the Singaporean Government’s announcement on the closure of all bars and entertainment outlets from 26th March to 30th April 2020, this can only mean that Teo Heng KTV Studio will have to close all of its outlets for a month long. And, that sums up to about 14 outlets going on a month-long hiatus. That’ll no doubt result in a big blow to their business income. According to Mr Jackson Teo, the company’s owner, the business would have to suffer a loss of about S$500,000 due to the closure.

Despite incurring huge losses in light of the Covid-19 crisis, Mr Jackson Teo has made an executive decision to continue paying salaries to all his employees. His business currently employs over a 100 people, so, these employees can rest assured that their livelihoods would not be drastically affected by pay cuts. It is definitely heartening to see Mr Jackson Teo’s kind efforts in continuing to support his employees during this difficult time.

“Employees are our wealth and we should take care of them even more so now during this critical period,” he said in a post on his personal Facebook account. Mr Jackson Teo also took the time to express his urge to the Singaporean government to help local businesses during this time. And with that, we sum up your dose of good news for today. It is heartwarming to see such willingness from Mr Jackson Teo and his company, and this can serve as an example to other businesses out there who have the means to support the business as well as employees. After all, we’re all in this together. Bye for now! Stay safe!