Property portal Domain Holdings says it has received fresh debt facilities from its lenders, waivers on its financial covenants and announced staff cost cuts in response to the potential impact of COVID-19.
Domain also said it had paused its print publications until demand for listings returns and cut its marketing spend on outdoor, radio, sporting and events with the focus remaining on areas where it says audiences remain engaged.
Source: Loan Digest (loandigest.net)
Jobkeepers not enough greedy
And the share price skyrockets!
So ‘cutting staff costs’ is the new euphemism for ‘lay offs’?
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