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MGM Resorts Announces Layoff Plans

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Jan 03, 2019

MGM Resorts International has a plan to boost cash flow over the next few years that includes personnel layoffs.

The company said in a statement Thursday it plans to trim about 3 percent of its U.S. staff by 2020.

MGM Resorts employs about 71,000 people in the U.S., implying the layoffs will affect about 2,100 people.

The company said while most of the cuts will be managers and above, some union jobs could also be eliminated, causing the company to increase its cash flow an additional $200 million over the next two years.

Union Gaming forecast MGM’s cash flow to rise by 26 percent over the next two years, driven primarily by new casinos in Massachusetts and Macau. 

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