Casinos Austria Board Approves Restructuring Plan with 500 Redundancies.
The Supervisory Board of Casinos Austria has approved the restructuring plan which it claims would be “the largest reorganisation in the company’s history.”
According to news in the Austrian media, it plans to make 500 workers redundant as it claims that this would save 1200 jobs. Company pensions will be reduced and up to 25% of salaries could be cut.
SAZKA CEO Robert Chvatal, the majority shareholder in Casinos Austria, said: “This is about saving a company that is in an extremely difficult situation due to its structure and the changed world. We do not want to sell casinos; we want to make them fit for the future.”
General Director Bettina Glatz-Kremsner said: “The Supervisory Board took an important step today to make Casinos Austria AG fit for the future by 2022. The implementation of the ‘ReFIT’ package of measures presented by us today as the board of directors will be the largest reorganisation in the company’s history, which will secure Casinos Austria’s position as THE gaming provider in Austria in the long term.”
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