As the number of tourists visiting the Maldives becomes fewer due to the global pandemic COVID-19, Villa Shipping and Trading Company has reduced their employee salaries effective from next month.

A circular issued yesterday with the signature of the Chairman and Managing Director of the company, Ibrahim Siyad Qasim, said that board of the company decided to reduce the salaries in different categories.

Villa salary reduction structure:

  • 10 percent from salaries under MVR 4,999
  • 20 percent from salaries between MVR 5,000 and 9,999
  • 35 percent from salaries between MVR 10,000 and 49,999
  • 50 percent from salaries above MVR 50,000

Villa said that they decided to reduce the salary because employees would have more difficulties if they were let go and because there is no way to run the company without reducing the spending for the employee salary.

However, when the situation changes, the original salaries will be restored according to the company. And since the company makes their profits from the resorts, the drop in the number of tourists visiting the country is going to reduce company profits.

Resorts run by Villa are Sun Island Resort, Holiday Island Resort, Paradise Island Resort, Royal Island and Fun Island Resort.

So far eight people have been tested positive for COVID-19 in the Maldives. All eight were found in tourist resorts.