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Business Report writes that Sun International on Monday announced the closure of its Naledi and Carousel hotels, saying that the Covid-19 pandemic had forced it to review its operations to save costs.
The group said lockdowns imposed to contain the spread of the pandemic had cost it millions, leaving it with an excess of more than 2,200 employees across its operations in the holiday resorts of Sun City, Maslow Sandton, Boardwalk, The Table Bay and Wild Coast. The group added that it planned to cut its head count by at least 2,300 after it was forced to halt its operations for three months as a result of the Covid-19 outbreak. The proposed retrenchment exercise has an estimated total cost of employment of R280-million. Chief executive Anthony Leeming reported that the group had already enacted a retrenchment process in Chile, where voluntary retrenchment packages involved about 1,000 people. He said 451 employees had accepted voluntary retrenchment processes. The group confirmed that it was also in the process of closing the Naledi and Carousel Casinos as part of its accelerated disposal of non-core assets. The planned job cuts come after the group reported a 56% decline in consolidated income to R3.7bn for the six months to the end of June and a 96% fall in earnings before interest, tax, depreciation and amortisation to R79m.
- Read the full original of the report in the above regard by Sandile Mchunu at Business Report
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