Sun International may cut 1,700 jobs
The process in SA follows a restructuring of Sun International's Chile-based operation late last year. Sun International said it has been experiencing increasing pressure on revenues along with growing operating costs.
Over the past six years‚ revenue from its local operations had risen by only 17%‚ while employee costs had increased by almost 40%‚ it said.
Sun International's chief executive Graeme Stephens that the group had no choice but to propose the restructuring of the business in the current environment.
"Retrenchments‚ if applicable‚ would be a last resort for us and certainly not a decision that would be taken lightly. We are putting every effort into both cost saving and revenue generating initiatives and will continue with these while we engage in a consultative process on the merits and depth of the potential restructuring. In this regard‚ all options will be explored," Stephens said.