Job losses have been announced as part of a restructure of operations at the Australian Turf Club.
ATC chief executive Darren Pearce said a downturn in revenue during the redevelopment of Randwick racecourse, high operating costs and the stagnation in the growth of wagering revenue, had forced the thoroughbred club to cut costs.
“The ATC will refocus on the core elements of the business and reduce resources and costs where these are not considered fundamental to core operations,” Pearce said.
“However, this restructuring of the club will mean that contingent labour will be reviewed and released and a number of positions will become redundant next week.”
The ATC, formed in February 2011 from a merger between the Australian Jockey Club and the Sydney Turf Club, employs 225 fulltime staff and has another 1700 casual employees.
“The amalgamation of two major race clubs always meant that difficult decisions would have to be made to best consolidate business practices across four racecourses and to deliver efficiencies in the use of our assets and industry relationships,” Pearce said.
Pearce said the new club inherited a high level of debt as a result of the merger.
