Crown Resorts stands down more than 11,000 employees as company struggles amid the coronavirus pandemic
- Crown have stood down more than 11,000 employees in Melbourne and Perth
- They were forced to cut staff after ban on gaming and non-essential services
- About 95 per cent of staff have been stood down, Crown revealed on Thursday
- Crown plan to continue with the construction of Sydney resort in Barangaroo
- Learn more about how to help people impacted by COVID
Crown Resorts have stood down more than 11,000 employees in Melbourne and Perth due to the coronavirus pandemic.
Crown said they were forced to substantially reduce their workforce following the government enforced shutdown of gaming activities and other non-essential services on March 23.
About 95 per cent of staff - or over 11,500 employees - have been progressively stood down, Crown revealed on Thursday.
Those in business-critical functions are the only staff members who remain actively working.
Crown Resorts have stood down more than 11,000 employees in Melbourne and Perth due to the coronavirus pandemic. Pictured: General view of exterior signage at Crown Casino, Southbank, Melbourne
Crown's Chief Executive Officer Ken Barton said: 'We have taken the tough but necessary decision to stand down a large number of our employees.'
'I have a deep gratitude to our employees for their understanding and commitment during this painful and highly uncertain time.
'We are continuing to investigate ways in which we can support our employees on an ongoing basis.'
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Crown will provide stood down full-time and part-time employees an ex gratia payment of two weeks' pay and a lump sum payment of $1,000 to casual workers.
Mr Barton and other members of senior management have taken a 20 per cent reduction in fixed remuneration until June 30 2020.
Crown expects its underlying operating cash costs to reduce to between $20-30million per month while gaming and non-essential business activities are suspended.
Crown said they were forced to substantially reduce their workforce following the government enforced shutdown of gaming activities and other non-essential services on March 23. Pictured: A security guard patrols in front of a closed entrance outside Crown Casino in Melbourne
Crown also revealed it has entered into new bilateral facilities with relationship banks for a total of $560million.
Crown said they plan to continue with the construction of Crown Sydney, permitting there are no further delays brought on by COVID-19.
The project is on track to be completed by the end of 2020 and the expected gross project cost remains the same at approximately $2.2billion.
There are more than 1,300 workers employed at the Barangaroo site and Crown expects to recruit more than 2,000 people to work in the resort when it opens.
Mr Barton said: 'We will continue with the construction of Crown Sydney which remains on track for completion progressively from the end of this year, absent any further impact relating to COVID-19.'
'As a result of today's announcement, Crown is well placed to withstand an extended period of closure.'
Crown said they plan to continue with the construction of Crown Sydney, permitting there are no further delays brought on by COVID-19. Pictured: Crown Resorts Limited signage is seen at Crown Towers in Melbourne
