As part of an effort to save us$ 100 million annually companywide
Las Vegas Sands cutting 200 Vegas casino workers
(US).- International casino owner Las Vegas Sands Corp. is cutting more than 200 workers from its Venetian and Palazzo casino-hotels on the Las Vegas Strip as part of an effort to save us$ 100 million annually companywide.
2008-12-15
Reading time 25 seg
Sands spokesman Ron Reese said the company will announce the layoffs, which amount to about 2 % of the two casinos’ 10,000-strong work force, on Friday. He said that the company, which laid off 50 other workers three weeks ago, has not ruled out more cuts later. Reese would not say how much the cuts would save.
When the company suspended construction on casino projects around the world in November, about 11,000 workers lost their jobs, most in the Chinese island enclave of Macau. Friday’s cuts affect only Las Vegas properties.
Sands shares have plummeted from a 52-week high of us$ 120.24 to close Thursday at us$ 5.81.
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