TAB to cut 30% of its staff

[Barry Lichter]

https://www.lincolnfarms.co.nz/stories/rita-boss-30-of-tab-staff-must-go-to-make-leaner-more-efficient-business/

[eljay]

This includes radio & TV

[TurnyTom]

Good start but until the nightmare of the wonderful new website and the annual payment removed it will be a hard road

Put the TAB up for sale, as it is it will likely remain an insolvent machine for years to come.

Time for hard decisions

[Patiti]

Barry Lichter now the media release person for the TAB.

Why do they come out under Lincoln Farms?

[Baz (NZ)]

This should of happened 20 years ago and should never be allowed to balloon out to these numbers again.
I just hope the right staff are being axed and we're not left with the deadwood.

All top brass staff in suits on $100,000+ salaries need to have their roles reviewed from top to bottom! RITA, RIU, TAB & NZTR.

[tripple alliance]

Hardly a reason to celebrate , this represents proof of how much trouble the racing industry is in , sure costs are being cut but that probably just represents how far the racing industry has fallen .

O

[puha]

If they can operate  letting go 30 % of the staff   does that prove they were well overstaffed or will the service deteriorate even further ?

[Insider]

22 minutes ago, poundforpound said:

You do have to feel sorry for those who lose their jobs though.....they’ve got mortgages and kids too 

True, but anyone there with any brains should have been positioning themselves to move on.

We could all see it coming. Why couldn't they?

Maybe that is the answer to the problem.

No one is a bigger socialist than me, but nor do I believe in sucking the trough dry and that's what so many there seem to have done. 

Good luck to them though, in these trying times.

P.S. Covid-19 hasn't caused this. The problems have been going on for years. How could management, paid $600,000+ surrounded by people on $300,000+ allowed this? 

 

[We're Doomed]

The amazing thing really is that revenue is only down 47% and customer numbers down about 35% despite no NZ racing to bet on and no international sport of any type.  Sounds like everyone has discovered Aussie racing. It doesn't sound like they make any profit at all off NZ racing.

[Nukkledragga]

28 minutes ago, Insider said:

True, but anyone there with any brains should have been positioning themselves to move on.

We could all see it coming. Why couldn't they?

Maybe that is the answer to the problem.

No one is a bigger socialist than me, but nor do I believe in sucking the trough dry and that's what so many there seem to have done. 

Good luck to them though, in these trying times.

P.S. Covid-19 hasn't caused this. The problems have been going on for years. How could management, paid $600,000+ surrounded by people on $300,000+ allowed this? 

 

It is so true that they should/ would have seen it coming and I have seen so many good workers jump ship at the merest hint of trouble , but when that trough is overflowing they arent looking for greener grass.

 

[tripple alliance]

35 minutes ago, poundforpound said:

Let me give you a clue 

Anyone left in charge of other people’s money ( read Labour or lefties ) will invariably keep spending the other people’s money until it runs out ..... there’s a life lesson right there .....if the TAB was listed on the NZX and accountable to shareholders, or if it had competition, this would almost certainly never have happened, but it wasn’t, and it has.

You're seeing the exact same thing happen with our country Liz ... inefficiencies and left wing loonies on a drunken narcissistic spending spree that those of us who are productive tax generators will spend the next twenty years paying for 

Prime example , Dalziel , former labour parliamentarian now Christchurch  the mayor . 

Councillors have promised to scrutinise staff pay after it emerged more than a quarter of Christchurch City Council employees earn over $100,000 a year — leading to accusations that bureaucrats are fleecing ratepayers.

The council’s payroll bill has spiralled in recent years, jumping from less than 25 per cent of operating costs in 2013 to almost 40 per cent at the end of the last financial year.

The number with salaries above $100,000 has more than doubled, up from 248 seven years ago to 554 in 2020, a rise from 12.8 per cent of the total staff to 25.5 per cent.

[Insider]

37 minutes ago, poundforpound said:

Let me give you a clue 

Anyone left in charge of other people’s money ( read Labour or lefties ) will invariably keep spending the other people’s money until it runs out ..... there’s a life lesson right there .....if the TAB was listed on the NZX and accountable to shareholders, or if it had competition, this would almost certainly never have happened, but it wasn’t, and it has.

You're seeing the exact same thing happen with our country Liz ... inefficiencies and left wing loonies on a drunken narcissistic spending spree that those of us who are productive tax generators will spend the next twenty years paying for 

You are probably right, in most of what you say. 

I can't agree with you 100% otherwise people will think that we are friends. LOL 

[Stables]

44 minutes ago, poundforpound said:

Let me give you a clue 

Anyone left in charge of other people’s money ( read Labour or lefties ) will invariably keep spending the other people’s money until it runs out ..... there’s a life lesson right there .....if the TAB was listed on the NZX and accountable to shareholders, or if it had competition, this would almost certainly never have happened, but it wasn’t, and it has.

You're seeing the exact same thing happen with our country Liz ... inefficiencies and left wing loonies on a drunken narcissistic spending spree that those of us who are productive tax generators will spend the next twenty years paying for 

Exceded only by Simon's alternative proposals

[nomates]

1 hour ago, puha said:

If they can operate  letting go 30 % of the staff   does that prove they were well overstaffed or will the service deteriorate even further ?

Can it get worse ?

[nomates]

I think we have got lucky , if you can call it that , that covid came along , because without the excuse of covid i don't believe they would have had the courage or the character to act on the issues that are plaguing them . They would have continued on with the smoke and mirrors till the arse fell out or their contracts were up .

[Patiti]

"Can it get worse?"

With the same leaders of course it can.

The same people who were prime movers behind the new platform probably remain.

[We're Doomed]

5 minutes ago, Patiti said:

"Can it get worse?"

With the same leaders of course it can.

The same people who were prime movers behind the new platform probably remain.

The interesting thing will be whether it is upper management who go or the lower paid frontline staff. And if they just get rid of contractors like tote staff, cameramen etc they will have to re-employ them when things get going again anyhow.

[Nukkledragga]

1 hour ago, poundforpound said:

Let me give you a clue 

Anyone left in charge of other people’s money ( read Labour or lefties ) will invariably keep spending the other people’s money until it runs out ..... there’s a life lesson right there .....if the TAB was listed on the NZSX and accountable to shareholders, or if it had competition, this would almost certainly never have happened, but it wasn’t, and it has.

You're seeing the exact same thing happen with our country Liz ... inefficiencies and left wing loonies on a drunken narcissistic spending spree that those of us who are productive tax generators will spend the next twenty years paying for 

The good workers will gravitate to good jobs with good employers , whether or not their jobs are on the line because the morale has been sucked out , inevitably the dregs and the sycophants are what you end up with , which makes the new org worse than what they started with before the cuts , more innefficient and they will not deliver any savings.

[mike28]

2 hours ago, Baz (NZ) said:

This should of happened 20 years ago and should never be allowed to balloon out to these numbers again.
I just hope the right staff are being axed and we're not left with the deadwood.

All top brass staff in suits on $100,000+ salaries need to have their roles reviewed from top to bottom! RITA, RIU, TAB & NZTR.

Deadwood thats the only kind isnt it

[Pam Robson]

10 hours ago, We're Doomed said:

The amazing thing really is that revenue is only down 47% and customer numbers down about 35% despite no NZ racing to bet on and no international sport of any type.  Sounds like everyone has discovered Aussie racing. It doesn't sound like they make any profit at all off NZ racing.

They don't.

That is why, without the extra income streams from overseas racing/sports/pokies,  we're stuffed.   And, even if cap-in-hand to Govt produces a bailout [ on top of what we already receive ] ,  unless there is radical restructuring we'll be back with the hand out again sooner or later.

[Stables]

And here we are. Just about to vote on the legalalistion of Canabis

[shaneMcAlister]

I get a bot confused with the highly profitable statement....this is before distributions i take it.  Distributions need to be treated as an expense (it is the nz racing that set it up, this is an owners salary) for this business because when distributions are added it is negative cashflow, severely.

[We're Doomed]

1 hour ago, shaneMcAlister said:

I get a bot confused with the highly profitable statement....this is before distributions i take it.  Distributions need to be treated as an expense (it is the nz racing that set it up, this is an owners salary) for this business because when distributions are added it is negative cashflow, severely.

I did wonder myself how they were so profitable and yet they had hardly any money to pay out to their codes, which was the only reason they were created in the first place. They would obviously be a very successful operation if they could reduce costs and not have to pay anything to the racing industry.

[JJ Flash]

14 hours ago, poundforpound said:

You do have to feel sorry for those who lose their jobs though.....they’ve got mortgages and kids too 

This is the great conundrum racing authorities  in NZ face.

Everyone says it's too expensive at the administrative level and the business needs to cut costs. The problem is who goes and what is the cost cutting outcome at the end  when the razor has done it's supposed job.

I'm picking a lot of.moans in the future about cost cuts and reduced services etc.

In short you get what you pay for and thus can't have it both ways.

 

Greg

[shaneMcAlister]

19 minutes ago, JJ Flash said:

This is the great conundrum racing authorities  in NZ face.

Everyone says it's too expensive at the administrative level and the business needs to cut costs. The problem is who goes and what is the cost cutting outcome at the end  when the razor has done it's supposed job.

I'm picking a lot of.moans in the future about cost cuts and reduced services etc.

In short you get what you pay for and thus can't have it both ways.

 

Greg

Totally feel for people losing their jobs.  The pity here is that Rita should have done this 9 months ago when the job market was a lot more buoyant.  Covid19 was needed for job cuts.