Caesars to trim workforce by less than 1%
By Howard Stutz, Las Vegas Review-Journal
Casino giant Caesars Entertainment Corp., attempted to clarify planned cost-saving measures Thursday, saying it will reduce its 68,000-person workforce nationwide by less than 1 percent.
The company, which operates nearly 40 casinos in 14 U.S. states and the Canadian province of Ontario — including Harrah’s Lake Tahoe and Harveys, is attempting to restructure its gaming industry-high $22.8 billion debt.
The company has held private talks with its banks and lenders since September and is reportedly planning a prearranged bankruptcy filing for Caesars’ largest unit as soon as January.
Caesars said this week it hopes to create an extra $250 million to $300 million in cash flow next year through various cost-savings measures.
In a statement Thursday, Caesars spokesman Gary Thompson said the company would eliminate jobs but the numbers would be small.
Hopefully they’ll layoff the 1% that are bad/incompetent. But Caesars is in this situation cause those are the ones that have kept their jobs even after Caesars’ previous layoffs.