Today, the group announced to investors that its casino operations in Sydney, the Gold Coast and Brisbane had been seriously impacted by the ban on social gatherings, and that as a result 90 per cent of its 9000-strong workforce would be temporarily stood down.
Around 8100 jobs are affected, including senior management roles.
In a release, the company described the decision as “very difficult, but necessary” and noted the stand-downs include senior management.
The company is providing two weeks of paid pandemic leave and workers will also have access to annual and long service leave entitlements.
“The board and senior management will also forego a significant percentage of entitled directors' fees and salaries respectively," the release states, explaining that further details are still to come.
The board and senior management are also giving up fees and taking pay cuts.Source:News Corp Australia
"At this time, we are unable to reliably advise of the impacts on financial performance due to the uncertain duration of the current circumstances.”
Chairman John O’Neill said it was necessary to stand down staff to protect the wider company.
"This is a unique environment and one beyond our control in which we're determined to balance the necessary measures needed to protect the business whole considering the considerable human impact to our workforce," Mr O'Neill said.
Meanwhile, managing director and CEO Matt Bekier said it was an unprecedented situation for all.
"We have incredible people at The Star and huge potential. We are also confronting, like the rest of society, an unprecedented challenge in the COVID-19 situation," Mr Bekier said.
