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TAB propose 230 job cuts as Covid-19 cost-saving measures

The TAB has become the latest organisation forced into cost saving measures due to Covid-19, today proposing cutting 30 per cent of staff across the organisation.

Horse racing Source: Photosport

With most sports having come to a halt due to the global Covid-19 pandemic, the TAB has taken a major financial hit, seeing April yield a 47 per cent lower return than expected.

The desperate times at the TAB even saw e-sports recognised as a national sporting organisation to ensure betting could continue during the pandemic.

In a statement today, Racing Industry Transition Agency, formerly the New Zealand Racing Board, executive chair Dean McKenzie updated the organisation's position amid Covid-19.

"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," he said.

"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."

The proposed changes would see 230 roles affected, with 160 full time employees and 70 contract roles axed.