Impact of COVID-19 Hits ILT

May 14, 2020
2190 Views

 

The Invercargill Licensing Trust is facing the prospect of staff restructuring – a decision chief executive Chris Ramsay has called “heartbreaking.”

We are facing the prospect of staff restructuring and have initiated a consultation period. No decisions have been made.

“It has come with a lot of angst,” he said.

“The reality is the negative economic impact of COVID-19 is not going to ease any time soon, and we are unlikely to be able to sustain our full quota of staff in the current environment.”

He said even at Alert Level 2 the restrictions imposed would seriously impede its ability to trade profitably.

ILT had been focused from the outset on protecting its 600-plus staff, including initiating pay cuts across its executive team and board indefinitely.

“Every decision we have made since this pandemic hit has been to try and save jobs. We’ve assessed every possible scenario but the reality is we may not be able to save them all.”

Chris said consultation with staff would be initiated immediately.

“It’s incredibly tough to think of the people and their families who will be hurting because of the downturn in the hospitality and tourism industries, and that extends well beyond ILT,” he said.

A flow-on effect to community funding was inevitable, with ILT anticipating significant operating losses to continue for quite some time, with gaming machines venues being closed.

“Our ability to continue to provide the level of funding we historically have is seriously constrained and, as we have advised all potential recipients, this will affect our grants decisions.”

Funding applications to ILT and ILT Foundation will be received but placed on hold until further notice.

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