Crown Resorts to cut up to 1K jobs on lower foreign visitation, restrictions on gaming play

Crown Resorts is reportedly cutting up to 1,000 jobs across its properties in Melbourne, Sydney and Perth in response to a lagging economic environment and its need to keep up with regulatory requirements.

Speaking of the workforce adjustment, Crown Resorts CEO Ciaran Carruthers noted that “The challenges at Crown reflect greatly reduced foreign tourism, a sharp decline in local workers in the city centers, and restrictions on gaming play in Sydney and Melbourne”.
Reports indicate that Perth is likely to be the least affected by the cuts, due to its stronger economy. In total, Crown Resorts employs about 20,000 people.
Last year, Crown already cut some 275 jobs after closing one of its gaming floors at its Sydney property.
Some 500 jobs will likely be cut from corporate, while 500 casino staff are also likely to be cut – mostly from Melbourne and Sydney, indicate reports.
The team involved in remediation is also likely to be reduced, following the group’s successful address of problems regarding its Melbourne and Sydney casino licenses.

https://agbrief.com/news/australia/23/04/2024/crown-resorts-found-suitable-to-retain-sydney-casino-license

The workforce reduction is said to have been made independently by Crown management, not by its controlling shareholder Blackstone.

Casino Gaming CEO Management Staff Employee

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