MGM Resorts: laying off 18,000 furloughed workers

MGM Resorts announced Friday that it is laying off 18,000 previously furloughed workers as the casino industry struggles to stay afloat during the ongoing coronavirus slowdown. 

• The cuts will be effective starting Monday, according to a letter sent to employees reviewed by the Wall Street Journal. 
• According to the letter, MGM will seek to recall workers as demand returns. 
• The separation notices were sent because federal law requires that workers who have been furloughed for more than six months receive an official separation date.
• At the start of the year, MGM Resorts employed about 70,000 people—the layoffs account for 25% of that total.

“While the immediate future remains uncertain, I truly believe that the challenges we face today are not permanent,” MGM Resorts CEO Bill Hornbuckle wrote in the Friday letter to employees, as reported by the Wall Street Journal. “The fundamentals of our industry, our company and our communities will not change. Concerts, sports and awe-inspiring entertainment remain on our horizon.”