New Zealand’s Racing Industry Transition Agency (RITA) has confirmed that it will be launching a consultation focusing on changes to the TAB as a result of COVID-19.
Changes include a 30% reduction on staff numbers, as well as other cost saving measures aimed at reducing total expenditure.
RITA Executive Chair, Dean McKenzie, emphasised that the changes are required to ensure the TAB is ‘best placed to meet the needs of New Zealand racing and sport’.
He said: “The TAB has taken a major hit from COVID-19 with revenue last month 47 percent below forecast and customer numbers down more than 35 percent.
“Despite far reaching efforts to reduce costs across the TAB, including salary reductions, staff taking leave and reducing all non-essential expenses, it simply was not enough to offset the blow COVID-19 has had, and will have, on our industry.
“The implication of the pandemic extends beyond the immediate impact to the TAB, with racing and sport looking very unpredictable over the next year. The reality is the TAB will need to be a leaner, more efficient business with fewer roles, and focused on driving our core wagering and gaming business.
“Our focus now is to discuss this proposal with our people and to listen to their feedback before a final decision is made in late May”.