Slot machine heavyweight International Game Technology (IGT), one of the largest makers of slots and gaming systems on the planet, is cutting roughly 700 jobs worldwide, about 10 percent of its global workforce, as it folds its legacy gaming operations into Everi. The restructuring puts a question mark over the company’s Las Vegas presence and what comes next for local staff.
In a statement, the company said the job reductions are tied to its ongoing integration with Everi and are meant to streamline operations, according to FOX5. IGT told the outlet it plans to provide affected employees with severance and outplacement services and will look for internal roles where possible. The company has not said how many Nevada-based workers are on the chopping block.
Company Points To Everi Tie-Up
The layoffs are part of a complicated separation-and-merger framework that IGT and Everi have laid out in regulatory filings, a deal designed to marry their gaming and financial technology operations. The companies detail the transaction and the cost-cutting they expect it to generate in documents filed with the SEC.
On paper, the strategy is simple enough: combine overlapping operations, reduce duplication, and squeeze out efficiencies. In practice, that usually means fewer people doing the same amount of work, which is exactly what many IGT employees now appear to be bracing for.
Local Footprint And Potential Impact
IGT has a notable footprint in Nevada, including a Las Vegas site near Buffalo Drive and Sunset Road and a large manufacturing and engineering hub in Reno that has long been core to its production engine. The company has already been reshuffling its real estate in the valley. As the Review-Journal reported, IGT previously sold a Las Vegas complex for tens of millions of dollars and leased back only a portion of the office space, a sign of how it has been repositioning its Nevada operations over time.
That history of selling, consolidating, and leasing back space may offer a hint at how this latest round of cuts could ripple through the state, although the company has not yet spelled out where, or in which departments, the ax will actually fall.
What Workers Can Expect
IGT has said affected staff will receive severance and outplacement help, and that it will explore redeployment options when possible, according to FOX5. For Nevada workers, state agencies also have a playbook for this kind of hit.
The Nevada Department of Employment, Training and Rehabilitation typically activates its Rapid Response program in the wake of large-scale layoffs. The initiative can bring on-site job fairs, training information, and benefits guidance directly to impacted workplaces. DETR explains in its materials how the Rapid Response team steps in after mass-layoff notices go out.
IGT has not released a timetable for when the 700 positions will be eliminated or identified specific units that will be hit. This story will be updated as IGT, Everi or state officials provide additional details.
