Wynn Resorts plans to furlough employees
Wynn Resorts is planning to furlough employees in its Las Vegas properties.
The company has more than 30,000 employees worldwide, with more than 16,000 working in Las Vegas properties. For a while, Wynn paid wages to 15,000 workers, which cost the company close to $250m, but recently it stated that with fewer visitors and ongoing COVID-19 cases, some employees will be asked to go on unpaid leave. Wynn stated, “Although we retained all of our people while we were closed, we now know how challenged business volumes in Las Vegas are and are staffing to the significantly reduced demand.” The exact number of furloughed employees is not known, but the company said it’s in low numbers, a single-digit percentage of the total staff.
The Las Vegas market is still dealing with the impact of the pandemic outbreak and casinos were shut for nearly three months, but re-opened at the beginning of June.
With some travel restrictions still in place, visitor number are lower than average, forcing companies to come up with cost reduction measures. Boyd Gaming recently announced it will let go thousands of workers, impacting 25% of nearly 24,000 employees. Circus Circus casino also let go more than 200 workers.
Reportedly, last month the unemployment rate in Nevada was at 15%.
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