South Africa's Sun International to cut 1,700 jobs

JOHANNESBURG Wed Jan 29, 2014 8:09am EST

JOHANNESBURG Jan 29 (Reuters) - Sun International, South Africa's second biggest hotel and casino operator, plans to cut 1,700 jobs at home to reduce costs, it said on Wednesday.

The company, along with rival Tsogo Sun, has been struggling in recent years as the weak economy and high household debt keep consumers away from gambling and domestic travel.

Sun International, which reported almost no growth in quarterly sales in October last year, employs more than 7,000 people in South Africa.

Shares in the company were up 1.9 percent at 98.99 rand by 1250 GMT, outpacing a 0.6 percent gain in the JSE All-share index.

It did not say how much it was aiming to save with the job cuts. (Reporting by Tiisetso Motsoeneng; Editing by Greg Mahlich)

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