Imperial Pacific International (CNMI) LLC terminated yesterday all employee benefits, citing severe budgetary constraints.
In an internal memorandum issued Tuesday, a copy of which was obtained by Saipan Tribune, IPI chief executive officer Ray N. Yumul said the company has regrettably decided to terminate all employees’ benefits including paid time off, sick leave, bereavement leave, home leaves, relocation reimbursements, post assignment tickets, and health insurance coverage where applicable, as directed by their board of directors.
He said the termination of benefits shall be effective 30 days from Tuesday, March 9.
When asked yesterday as to how many employees will be affected, Yumul said he will try to get a head count.
The House Committee on Gaming, chaired by Rep. Edwin K. Propst (D-Saipan), recently agreed to conduct an oversight investigation into the governance, financial suitability, and compliance failures affecting IPI.