Rank furloughed nearly 90% of employees

Casino and bingo hall operator Rank Group Plc. has furloughed nearly 90% of its UK employees. The decision was impacted by the closure of venues due to the COVID-19 lockdown. The 7,000 out of 7,600 employees who have been impacted will receive 80% of their salary, according to the job retention scheme. The directors of Rank Group volunteered to cut their pay by 20%. Rank suffered a 4% decline in like-for-like net gaming revenue for three months ...