Gaming giants Crown Resorts and The Star Entertainment Group have stood down 20,000 hospitality workers as a result of the COVID-19 shutdown.
Crown revealed this morning that it had progressively stood down, on either a full or partial basis, approximately 95% or over 11,500 of its employees. Only employees in business-critical functions remain actively working.
Star said that it had stood down 8500 staff from its Treasury Brisbane, The Star Sydney and The Star Gold Coast properties.
Star CEO Matt Bekier said: “The Star is implementing necessary and wide-ranging measures to strengthen the balance sheet and preserve liquidity in the current exceptional circumstances.
“The shutdown continues to have a significant impact on our people and their families, and the Group welcomes the Australian Government’s support, particularly the JobKeeper Payment program."
CEO Matt Bekier’s salary has been reduced by 40% and non-executive director fees have been cut by 50% for the remainder of the 2020 financial year.
“These unprecedented challenges have had a considerable human impact,” Star chairman John O’Neill said.
“To temporarily stand down more than 90% of our dedicated workforce will be the most painful decision our senior management is ever likely to encounter. As a Board, and as a management team, there was no hesitation in reducing directors’ fees and senior executive salaries.”
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