Crown Resorts will slash 1000 jobs across Australia as the entertainment giant undergoes a major restructure.
Its casinos in Sydney, Melbourne, and Perth will be most affected by the move, chief executive Ciaran Carruthers informed staff in an email on Monday morning.
Most of the job cuts will be in Melbourne, which is home to Crown’s most popular entertainment precinct.
The move is expected cut the overall headcount across corporates and precinct roles by four per cent, though the Perth site will be spared the worst.
Crown Resorts will slash 1000 jobs in another round of mass lay offs as the company undertakes a major restructuring of the business. Most of the latest cuts will be at its Melbourne casino (pictured)
The decision will means Crown will shed five per cent of its workforce with about 20,000 people employed across the three casinos.
Crown, which posted a $199million loss last financial year has been hit hard by regulations and fewer customers visiting the three casinos.
The ongoing cost of living crisis has also affected the operations of the enterprise.
Tough economic conditions and gambling regulations has forced the company into the latest restructure.
‘The challenges at Crown reflect greatly reduced foreign tourism, a sharp decline in local workers in the city centres, and restrictions on gaming play in Sydney and Melbourne,’ Mr Carruthers said in a statement.
‘This was a difficult decision, but we are focused on repositioning the business for long-term success.’
He stressed that the job losses wouldn’t impact Crown’s approach to its regulatory obligations.
‘We are committed to our regulatory obligations and ongoing transformation, including Crown PlaySafe, Melbourne and Sydney transformation plans and ongoing remediation in Perth,’ Mr Carruthurs added
Employees at Crown Sydney are not understood to be directly affected by the latest job cuts however cut will come from the corporate and hospitality departments.
The latest round of job cuts comes after Crown Casino in Melbourne slashed 200 jobs earlier this year and switched their 2600 poker machines to carded play, to help customers place gambling limits.
The company regained their licenses to operate casinos in Melbourne and Sydney earlier this month, as the firm looks to sustain their business operations.
The move will mean the company (pictured) will shed five per cent of their workforce, with most of the job cuts coming from the Melbourne casino
The chief executive of Crown Ciaran Carruthers, said the firm is committed to implementing a range of regulatory measures to help reduce problem gambling (pictured customers at a Crown casino)
Crown was the subject of two damning royal commissions into their casino operations, which found the company had engaged in money-laundering activities including at the Melbourne casino.
Ray Finkelstein, the Victorian Royal Commissioner branded the conduct ‘disgraceful’ and said in his final report released in October, 2021, that the activities were illegal, dishonest, and unethical.
Daily Mail Australia contacted Crown Resorts for further comment.
