We are building on the strong foundation that we have solidified over the past few years, to deepen our efficiencies and achieve sustained growth and margin enhancement. In the press release, Jim Murren, Chairman and CEO of MGM Resorts International described MGM 2020 as follows, “Today, we are taking the next step in our evolution as an organization. They do, however, mention that half of their savings goals for 2020 will be met by, “labor savings.”
Not surprisingly, the press release buried the news that about 3 percent of the company’s 71,000 employees would be losing their jobs along the way to that $300 million goal. MGM Resorts made the announcement yesterday in a press release touting its “MGM 2020” plan as a means of bringing new profitability to the distinguished gaming company. That’s because the gaming industry giant is preparing to boost profits by as much as $300 million and that boost is going to be funded by as many as 2,000 layoffs. 2019 is only days old but workers at MGM Resorts are already looking forward to 2020 with a sense of dread and unease.
