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BusinessLive reports that hotels and gaming group Sun International (SI) intends to cut about 1,800 staff at its hotels and sell land as it braces for a slow recovery in the wake of Covid-19.
The group is scrambling for cash after the virus shuttered its hotels and casinos in SA and Latin America. While the group is gearing up to resume operations in SA under level 3, regulations setting out the conditions under which it could operate have yet to be published. The group expects alcohol sales to remain restricted and is prepared to switch off every second slot machine to ensure social distancing. It is planning significant restructuring of its hotels and resorts in anticipation that they will be under pressure for some time. In a business update, the group said it had reduced salaries and working hours, and would cut 1,183 staff at Sun City, while cutting hundreds of staff at its other hotels. SI employed 14,706 staff across the group as at the end of 2019. “Although trading conditions are going to be challenging, we are confident that, with the appropriate level of support from shareholders and lenders, the company can trade through this crisis,” the group stated.
- Read the full original of the report in the above regard by Karl Gernetzky at BusinessLive
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