Business Day reports that almost a quarter of Sun International's workforce in SA could be affected in a restructuring effort to bolster slack profits, the gaming and hotel operator announced yesterday. It has a local staff contingent of about 7,180 and about "1700 positions could be affected" if the process were to go ahead. The company acknowledged it was experiencing increasing pressure on revenues along with growing operating costs. Pallavi Ambekar of Coronation Fund Managers said the restructuring proposals were not entirely unexpected after a management shake-up that saw the appointment of Graeme Stephens as CEO last year. The SA Commercial Catering and Allied Workers' Union (Saccawu) said the union would issue a detailed response tomorrow.
- Read this report on page 13 of Business Day of 30 January 2014
- See too, 'Sun International: 1700 jobs could be affected', at Moneyweb
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