MGM Resorts reduces number of employees
The casino company MGM Resorts has once again reduced its number of employees and cut 557 more positions as part of a strategic restructuring.
US.- MGM Resorts has recently introduced a restructuring program that includes reducing the number of employees. In the final stage of these strategic layoffs, MGM decided to eliminate 557 positions from the company.
The casino company first introduced these measures in April, when it cut 254 positions and said that more would come. MGM Chairman and CEO Jim Murren explained that the reductions will help them save US$100 million in labour costs.
“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 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.
