By RNZ

The TAB has confirmed it is to cut 230 jobs in an attempt to stem the impact of the Covid-19 financial downturn.

The cut includes 150 permanent staff.

The sports and racing betting company's parent, the Racing Industry Transition Agency, formerly the Racing Board, said the reduction is 30 per cent of its workforce.

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It's expected to save $11 million a year in addition to other cost-saving plans.

These include the cancellation of Trackside Radio programming, fewer in-person betting facilities at races, trims to its television output and the closure of four retail stores.

The executive chair Dean McKenzie says the extent of racing and sport fixtures is looking uncertain over the next year.