Las Vegas, Mar 26: Global gaming technology firm International Game Technology (IGT) has announced plans to lay off around 700 employees worldwide, representing roughly 10 per cent of its workforce, as part of a restructuring exercise aimed at improving efficiency and long-term growth.
The decision was communicated by Chief Executive Officer Hector Fernandez in a letter to employees earlier this week, where he described the move as necessary to align resources with business priorities and streamline operations.
Fernandez said the layoffs are part of a broader effort to reorganise the company following its recent ownership transition and are intended to simplify operations and reduce duplication.
He clarified that the job cuts are not related to employee performance but are driven by structural changes designed to position the company more competitively in an evolving gaming industry.
The company did not specify how many of the affected roles are based in Nevada, including Las Vegas, where IGT has recently established its corporate headquarters.
The restructuring follows the acquisition of IGT by investment firm Apollo Global Management in a deal valued at approximately $6.3 billion.
Fernandez noted that the company has been reviewing its business strategy and operational framework over the past several months, focusing on areas of priority and efficiency.
He added that while the decision was difficult, it forms part of ongoing efforts to build a stronger and more agile organisation capable of adapting to changes in the global gaming market.
