What is the likelihood of MGM layoffs in Las Vegas in 2016? Please let me know if you have any information.
4 replies (most recent on top)
Massive layoff today at Monte Carlo
5/5/2017
40 plus kitchen workers at The Mirage have been fired by May 1 ,so far no explanation has been told ,the president refused to meet the workers today,we call it massive lay off by the MGM
It's now 2016 and as predicted- 1000's of layoffs, cutbacks, additional fees and charges to all MGM properties and employees. Just so the head honchos can make more $$$ and we get screwed again! Why do we put up with it and what can we do? Start by boycotting MGM/Mirage properties and spreading the word thru social media, friends, family, etc...
Likely high chance of layoffs in not too distant future as part of the "Profit Growth Plan" which will net top 7 or so execs $10m in bonuses, let alone the increased value in their shares already. Long term, the plan will put the company into chapter 11. But some feel, there will also be a selloff of company properties after a recent REIT creation under the company umbrella. Likely leaving only City Center-Aria, MGM, Bellagio, in LV under the MGM brand, selling off the rest. Wall street will love this and push the stock value, thus kicking in bigger bonuses.