The Star Entertainment Group will axe hundreds of Australian jobs, implement a salary freeze and cancel some incentives for this financial year. 9News
The ASX-listed business will axe 500 full-time jobs across Australia, implement a salary freeze and cancel some incentives for this financial year.
The amount of money people have to spend at casinos has had an impact on the downturn in earnings, the group said.and having its casino licence suspended late last year over anti-criminal activity failings."The Group is experiencing a significant and rapid deterioration in operating conditions, particularly at The Star Sydney and The Star Gold Coast," the company said in a statement to the ASX.
"To put the operating environment into perspective, the Group's current earnings performance is at unprecedented low levels ."The Star group is estimating this financial year to earn between $280 million and $310 million.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Star Entertainment to cut 500 jobs following ‘rapid deterioration’Star Entertainment Group has announced it will axe 500 positions and implement a salary and incentives freeze to extract $100 million from its costs following unprecedented low earnings across its casinos.
Read more »
Australian sporting world in mourning following death of ‘truly remarkable’ pioneerFaith Thomas, a fearsome pace bowler who became the first Indigenous woman to play Test cricket for Australia, has died at the age of 90. 7NEWS
Read more »
Rare celestial event just days away from Australian skiesWestern Australia will be graced by a rare solar eclipse in just days, a stellar occurrence the state hasn't seen since 1974. 9News
Read more »
Voice referendum is a ‘historic opportunity’ for Australian people: AlbanesePrime Minister Anthony Albanese says the Voice to parliament referendum is a “historic opportunity” for the Australian people to decide on something which won’t be “determined by politicians”. “I believe this is an important task and is a historic opportunity Australians will be given … this is now over to the Australian people, this is something that won’t be determined by politicians,” Mr Albanese said during a media conference on Monday. “It’ll be determined by people who run into Pat and wonder why it is this person is running 80 kilometres a day, every day, for six months and running over 14,000 kilometres, that’s the sort of commitment that is inspirational and I think it’s matched by the commitment of Aboriginal and Torres Strait Islander people themselves.”
Read more »
Australian believed to have died while hiking Kokoda TrackA 48-year-old Australian man has died while hiking the Kokoda Track in Papua New Guinea, the ABC understands.
Read more »
Premiers visiting China urged to address detained Australian citizensLiberal Senator James Paterson has called on all leaders, including premiers such as Daniel Andrews and Mark McGowan, visiting China to raise the cases of detained Australians Cheng Lei and Yang Hengjun.
Read more »