Paradise, Nevada-based gaming giant Boyd Gaming Corporation has notified workers of possible layoffs, declaring that that job cuts could reach 60 percent at some of its properties.
The American gaming and hospitality giant is in the process of reopening its casinos in wake of the deadly COVID-19 pandemic, which forced businesses to suspend their operations in mid-March this year. On Monday, it announced the reopening of its four casinos in Missouri and Iowa. However, like any other entertainment business, Boyd Gaming Corp.’s casinos suffered a lot because of corona virus pandemic as the prolonged lockdown hit the company’s revenues and profits very hard.
Some of Boyd Gaming’s casinos have resumed operations, such as casinos in Louisiana. But, many of the company’s casinos, including the Par-A-Dice Casino in East Peoria, Illinois, are still closed. The adverse business conditions forced the company to notify its team members or employees of possible job cuts.
Announcing the job cuts, company executive David Strow said they have already sent letters to a fraction of its workforce as well as to labor offices in the states where the company’s properties are located. The planned permanent layoff will likely be in the range of 25 percent to 60 percent. For those who will be retained by the company, furlough periods might be longer than 6 months.
Claiming that the company wanted to be as transparent as possible with employees, Strow added, “There continues to be uncertainty surrounding opening dates for some of our properties across the country that have been closed since mid-March. In addition, it is very difficult to predict what business levels will look like as we reopen our properties, and how long it will take for business to recover to normal levels.”
As per the company’s notification, the job cuts will take place sometime between 1st of July to 14th of July this year. The permanent job cuts and extensive furloughs are expected to affect more than ten thousand employees across properties in several states of the USA, including employees at the company’s uniform laundry service and corporate headquarters. At the Las Vegas-based Orleans Hotel and Casino, the planned layoffs could affect more than 1,800 workers.
Mandatory closures, guest restrictions imposed by regulatory authorities, and adverse economic conditions created by the deadly corona virus pandemic were cited by the Nevada-based gaming giant as reasons for the planned job cuts.