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Caesars Announces Corporate Layoff Plans

Caesars Entertainment is planning to cut costs by laying off some of its corporate employees.

The company announced Thursday the layoffs could save $40 million per year. Caesars also says it will reduce the number of vacant jobs and slash spending on consultation.

In a statement, the company said hires elsewhere in the workforce will generate additional revenue and that "all affected employees have been offered severance and company-paid career counseling."