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Casino operator Rank Group has furloughed around 7000 staff in the UK as its venues remain closed due to lockdown. All the furloughed employees will receive 80% of their salary as per the Job Retention Scheme of the UK Government.
The executive and non-executive directors have volunteered a 20% reduction in salaries and fees with effect from the start of April for as long as colleagues are in furlough.
Assuming that all venues remain closed for the rest of the financial year to the end of June, the underlying operating profit for the year is expected to be between £48 million to £58m.
The firm has launched a new charity initiative in collaboration with Blue Light Card, the discount service for the NHS, Emergency services, social care workers and Armed Forces. Rank staff are providing free meals to these key workers from some of its UK venue kitchens.
Rank is also working with a number of MPs and local councils to ensure whatever capacity it has in kitchens is maximised to provide vulnerable people, including the homeless and elderly, with hot meals, cooked in Rank venues and distributed by its teams.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Rank Group Furloughs 7000 UK Staff
