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Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £3.44bn
Enterprise Value £3.56bn
Revenue £1.63bn
Position in Universe 81st / 1830

FACTBOX-Layoffs in corporate Australia, New Zealand as coronavirus crisis deepens

Mon 22nd June, 2020 8:30am
June 22 (Reuters) - The coronavirus outbreak has virtually
shut down corporate Australia and New Zealand, forcing companies
to throw out their strategic plans and resulting in thousands of
layoffs or staff suspensions.
    Listed companies in both the countries have already laid off
or began considering laying off more than 100,000 people, 
temporarily or permanently, highlighting the toll on livelihoods
as virtual shutdowns take hold. 
    Ultimately, economists forecast the crisis will more than
double unemployment to more than 11%, the highest in three
decades.

    AIRLINES
    ** Qantas Airways  QAN.AX  to place 20,000 workers on leave
until at least the end of May.  urn:newsml:reuters.com:*:nL4N2BB5ER
    ** Virgin Australia  VAH.AX  to stand down 8,000 employees
until the end of May.  urn:newsml:reuters.com:*:nL4N2BH58U
    ** Air New Zealand  AIR.NZ  to lay off nearly a third of its
employees, about 3,500, in the coming months, saying that was a
"conservative" assumption.  urn:newsml:reuters.com:*:nL4N2BN4YO
        
    CASINOS
    ** Star Entertainment Group  SGR.AX  says 90% of its
workforce, or 9,000 people, will be placed on leave due to
mandated casino closures.  urn:newsml:reuters.com:*:nL4N2BH6KY
    ** Crown Resorts Ltd  CWN.AX  stood down about 95% or more
than 11,500 of its employees on a full or temporary basis as
gaming and other non-essential services at its resorts in
Melbourne and Perth were suspended.  urn:newsml:reuters.com:*:nL3N2C401A
    ** SkyCity Entertainment Group  SKC.NZ  has laid off or
furloughed at least 1,100 of its staff across Australia and New
Zealand.  urn:newsml:reuters.com:*:nL4N2BF0IW  urn:newsml:reuters.com:*:nL4N2BF0IW
    ** Aristocrat Leisure  ALL.AX  stood down about 1,000 staff
until the end of June this year, while 200 roles will be removed
permanently from the business  urn:newsml:reuters.com:*:nFWN2CE005
    
    RETAIL
    ** Department store operator Myer Holdings  MYR.AX  will
temporarily lay off 10,000 of its staff without pay.
 urn:newsml:reuters.com:*:nL4N2BK2RY
    ** Kathmandu Holdings Ltd  KMD.NZ , the outdoor apparel
retailer that owns Rip Curl, said most of its global stores were
closed and almost all its staff in Australia will be stood down
for four weeks without pay. It has around 4,000 employees
globally.  urn:newsml:reuters.com:*:nFWN2BJ1JQ
    ** Home ware retailer Smiths City Group Ltd  SCY.NZ  stands
down almost all of its 465 employees on 80% of their salary.  
 urn:newsml:reuters.com:*:nFWN2BK1SI
    ** Retail Food Group  RFG.AX  will stand down or reduce the
working hours of the majority of its 500 employees. 
    ** Premier Investments  PMV.AX , owner of Smiggle and Just
Jeans, is standing down 9,000 employees, most without pay.
 urn:newsml:reuters.com:*:nFWN2BI1K2
    ** Jeweller Michael Hill International  MHJ.AX  is putting
staff on leave in Australia, New Zealand and Canada. The company
employs about 2,500.  urn:newsml:reuters.com:*:nFWN2BG1N8
    ** Fashion retailer Mosaic Brands  MOZ.AX  is standing down
6,800 due to store closures.  urn:newsml:reuters.com:*:nFWN2BH1DH
    ** Footwear retailer Accent Group  AX1.AX  stands down all
of its retail employees and most support staff for four weeks
without pay. The company reportedly employs 5,700.  urn:newsml:reuters.com:*:nFWN2BI06S
    
    HOSPITALITY 
    ** Pub and hotel operator Redcape Hotel Group  RDC.AX  will
cut most permanent staff. It employs 800 people.  urn:newsml:reuters.com:*:nFWN2BH1DG
    ** ALH Group, the pubs and hotels group majority-owned by
Woolworths  WOW.AX , will stand down about 8,000 staff.
    
    TRAVEL AGENTS
    ** Flight Centre  FLT.AX  is cutting or putting on leave a
third of its 20,000 staff.  urn:newsml:reuters.com:*:nL4N2BI5KN
    ** Helloworld Travel  HLO.AX  lays off 275 people and
temporarily stands down two-thirds of its 1,800 workforce until
the end of May.  urn:newsml:reuters.com:*:nFWN2BE070
    
    HEALTH AND EXERCISE 
    ** Viva Leisure  VVA.AX  lays off more than 90% of its 2,200
workforce.
    ** Dental group Abano Healthcare  ABA.NZ  will stand down
the majority of its 2,300 employees at its operations in
Australia and New Zealand.  urn:newsml:reuters.com:*:nFWN2BM005   
    
    ENERGY
    ** Worley Ltd  WOR.AX  laid off 5% of its employees,
dropping to 56,000 workers as of March 31 from 59,000 as of Jan.
31, with most of the cuts coming in field-based work.
 urn:newsml:reuters.com:*:nFWN2CF1F8 
    
    PROFESSIONAL SERVICES
    ** Deloitte Australia said it will cut 7% of its workforce,
equating to more than 600 jobs, due to a downturn in revenue
associated with COVID-19.  urn:newsml:reuters.com:*:nL4N2DZ1EA
        
    HIRING:
    On the other hand, some companies are hiring under the new
circumstances. 
    
    ** Australia's biggest supermarket chain Woolworths to hire
20,000 in the next month. Some of the new hires will be those
re-deployed from its pubs and hotels business, ALH Group.
Woolworths also plans to offer short-term roles to 5,000 Qantas
employees put on leave. 
    ** Coles  COL.AX  has added 7,000 people to its ranks, and
said it plans to hire another 5,000 to meet increasing demand at
its supermarkets and liquor stores.
    ** Australia's biggest telecom company Telstra  TLS.AX  will
freeze a 6,000-employee cull and hire 1,000 due to growing
volumes at call centres.
    ** BHP Group  BHP.AX , the world's biggest miner, said it
will hire 1,500 temporary workers, some to be offered permanent
roles after six months.  urn:newsml:reuters.com:*:nFWN2BC1J8

 (Reporting by Nikhil Kurian Nainan and Anushka Trivedi in
Bengaluru; Editing by Tom Hogue and Christopher Cushing)
 ((NikhilKurian.Nainan@thomsonreuters.com; Twitter:
@NikhilKurianN; +91 806 182 2724))
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