Recent reports indicate staff reductions at two major Las Vegas Strip resorts, primarily affecting top-level positions. Fewer than 50 employees were laid off at the Venetian and Palazzo, which together employ over 8,500 people, according to statements from the resorts.
According to the
Las Vegas Review-Journal
, the layoffs affected various executive and senior-level roles, including those in hotel operations, marketing, and casino functions, with some employees having over ten years at the properties. The staff reduction is part of a restructuring aimed at streamlining operations, according to an internal memo.
In a statement obtained by
FOX5 Vegas
, the resort expressed the reasoning behind the cuts: “As part of our commitment to delivering exceptional service and remaining agile in a rapidly evolving industry, we have made the decision to streamline our organizational structure. By reducing layers within our leadership, we can act more swiftly, make decisions more efficiently, and ensure a closer connection between our frontline teams and senior leaders.”
Patrick Nichols, the President and CEO of the Venetian, has not offered commentary following an employee town hall that addressed the layoffs. The staff who were laid off are reportedly receiving severance packages that consider their positions and years of service. Details of these packages remain undisclosed due to nondisclosure agreements, although one former employee has dubbed the payouts “inadequate,” as per the
Las Vegas Review-Journal
.
Despite the layoffs, the Venetian continues with a significant capital investment, plunging $1.5 billion into what the resort has termed “the largest and most expensive hotel renovation in history,” as mentioned in
Las Vegas Review-Journal
. Some components, like the renovated Venetian Expo Center and a new poker room, are already complete. Additionally, the resort has embarked upon a unique partnership with Pechanga Resort Casino, which suggests new cross-promotional opportunities for its customers.
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