Cricket Australia Announces Job Terminations and Salary Cuts
Cricket Australia has announced several measured that they will be adopted in the coming months to mitigate the financial losses that are being suffered by the board, due to the COVID-19 lockdown.
These new measures were announced following the resignation of former Cricket Australia chief Kevin Roberts. Following this Nick Hockley was appointed as his replacement.
Some of the changes being brought into effect include termination of services of more than 40 staff, reduction in bonuses for senior management, and stoppage of international tours for the country’s A teams, for the foreseeable future.
According to the management, these measures would help the board, save around $40 million in revenue.
Speaking on the matter, Hockley commented that “these measures would allow Cricket Australia to cope with the impact of COVID-19 and that it would allow them to create a sustainable financial model”.
If the COVID-19 lockdown continues, Cricket Australia could lose even more in terms of revenue as this year itself, they are set to host the T20 World Cup, as well as team India for a full tour.