18,000 more layoffs at MGM resorts

MGM said it would re-hire employees when able to.
MGM said it would re-hire employees when able to.

The layoffs account for around a quarter of MGM Resorts’ 70,000 employees.

US.- MGM resorts is to lay off a further 18,000 staff as the coronavirus pandemic continues to heavily impact business.

The layoffs account for around a quarter of MGM Resorts’ 70,000 employees. It furloughed 62,000 staff when its properties closed in mid-March.

While venues have since reopened to the public again, they can only operate at 50 per cent capacity, meaning fewer staff members are needed for every day operations.

MGM said on Friday that it would re-hire employees when able to.

Economists in the US predict layoffs will continue across a range of industries while the virus continues to spread unless Congress offers financial support.

Economist Nancy Vanden Houten said: “We think recovery in the job market will be slow. Ultimately, the recovery in the economy and the job market will depend on a medical solution to the coronavirus. In the near term, we think the lack of further federal support poses serious downside risks to the outlook.”

Casino Royaleon the Las Vegas strip also announced layoffs last week.