Gambling in the USA

MGM Resorts Lay Off 557 Employees

Published

6 years ago

June 6, 2019

Niji Narayan

Photo Source: ktnv.com

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MGM Resorts, the well-known casino company in the USA, has opted for a staff-restructuring program that will result in the loss of 557 job positions. The company laid off 254 staff members in April. The company is aiming to reduce labor costs through these measures. MGM Chairman and CEO Jim Murren said:

“I want to assure you the decisions of the last several months were made deliberately, carefully and with gravity. Having done this foundational work, we will be stronger and better prepared for continued success and industry leadership in 2020 and beyond,” said the CEO.

This will help the company reduce staff costs by US$100 million. This is expected to bring MGM an extra US$300 million in cash flow by 2021. “We need to create a company that is streamlined, nimble and empowers leaders. I want to unleash innovation and support dynamic new ideas; we need a new way of operating,” said Murren back in April.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.