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Author Topic: Wynn Resorts Cutting Salaries, Reducing Hours  (Read 3893 times)
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« on: February 03, 2009, 11:42:02 PM »
Wynn Resorts Cutting Salaries, Reducing Hours
Updated: Feb 3, 2009 07:19 PM
Casino operator Wynn Resorts Ltd. says it plans to save $75 million to $100 million annually by cutting pay of all salaried workers in Las Vegas, reducing hours for hourly employees and eliminating retirement account contributions and bonuses for 2009.

Chief executive Steve Wynn said Tuesday that the changes would affect employees of the Wynn Las Vegas and Encore casino-resorts on the Las Vegas Strip.

Wynn says employees are finding out about the changes on Tuesday and Wednesday.

Wynn says the goal of the cost reductions is to run the casinos more efficiently and protect the jobs of its employees.

The Las Vegas-based company opened the 2,034-room, $2.3 billion Encore in December.

Wynn says the cuts in Las Vegas do not affect the company's Macau casino in China.
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« Reply #1 on: February 04, 2009, 02:34:13 AM »
I guess the notion of reducing room rates and lowering table minimums from $50/hand to draw more people in never crossed their mind.
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« Reply #2 on: February 04, 2009, 02:51:12 AM »
Quote from: jay on February 04, 2009, 02:34:13 AM
I guess the notion of reducing room rates and lowering table minimums from $50/hand to draw more people in never crossed their mind.

 Duh! Duh! Duh!

Reducing the hours of hourly employees (re: dealers) and cutting out their 401k matches and bonuses is sure to keep their current crop of $50/hand customers satisfied. Hey, I know that when I  play for $50/hand I always look for dealers with negative attitudes and hostility towards their job and employer.  ttth muted
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« Reply #3 on: February 04, 2009, 03:30:21 AM »
Actually they did just reduce their room rates...have seen them at $129 recently where as a year ago they were twice that.
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