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Bloomberg: MGM Resorts International is sending pink slips to about 18,000 employees, more than one-quarter of its pre-pandemic U.S. workforce, due to the slow recovery of some casino markets.
The cuts, while centered in Las Vegas, are happening nationwide, the company said on Friday. MGM, the largest operator of casinos on the Las Vegas Strip, has been struggling to fill its rooms and casinos since Nevada began reopening in early June. Two of the company’s casinos, the Park MGM in Las Vegas and Empire City in New York, remain closed.
“While we have safely resumed operations at many of our properties and have returned tens of thousands of our colleagues to work, our industry — and country — continues to be impacted by the pandemic, and we have not returned to full operating capacity,” Chief Executive Officer Bill Hornbuckle said in a memo to staff.
The company will continue to pay healthcare benefits through the end of September, and anyone recalled to work by December 2021 will maintain their seniority, he said. MGM employed about 70,000 full- and part-time workers at the end of last year.
MGM Resorts International is sending pink slips to about 18,000 employees, more than one-quarter of its pre-pandemic U.S. workforce, due to the slow recovery of some casino markets.
The cuts, while centered in Las Vegas, are happening nationwide, the company said on Friday. MGM, the largest operator of casinos on the Las Vegas Strip, has been struggling to fill its rooms and casinos since Nevada began reopening in early June. Two of the company’s casinos, the Park MGM in Las Vegas and Empire City in New York, remain closed.
“While we have safely resumed operations at many of our properties and have returned tens of thousands of our colleagues to work, our industry — and country — continues to be impacted by the pandemic, and we have not returned to full operating capacity,” Chief Executive Officer Bill Hornbuckle said in a memo to staff.
The company will continue to pay healthcare benefits through the end of September, and anyone recalled to work by December 2021 will maintain their seniority, he said. MGM employed about 70,000 full- and part-time workers at the end of last year.
