MGM Resorts to Lay Off 18,000 Employees

[Demovictory9]

https://www.hollywoodreporter.com/news/mgm-resorts-to-lay-off-18000-employees

The move follows the Las Vegas casino operator failing to rebound fully after furloughing its workforce amid the novel coronavirus pandemic.

MGM Resorts International is set to lay off 18,000 furloughed workers in the U.S. as its casino and hotel reopening faces continuing impact from the global COVID-19 spread.

The holding company for the Las Vegas casino and hotel operator in an Aug. 28 letter to employees obtained by The Hollywood Reporter said MGM Resorts had not yet "returned to full operating capacity" after furloughing its U.S. workforce six months ago as the virus crisis gathered pace.

MGM Resorts added that federal law required the company to offer a separation date for furloughed workers, which would be Aug. 31.

The gambling giant, which emerged from a months-long shutdown of its U.S. entertainment properties amid the virus crisis, was careful to note that it intended to recall former workers as the economic climate brightened post-pandemic.

[drray23]

1. so not only did Trump bankrupt his own casino in the 80's

he also so mismanaged covid that he is now bringing the mgm to near collapse. well played Trump ! I am sure the mob will approve.

[Klaralven]

2. MGM notifies 'large majority' of entertainment, sports divisions of impending layoffs

MGM Resorts International will lay off the majority of workers in its entertainment and sports divisions effective Aug. 31, the company said, according to the Las Vegas Review-Journal.

The resort company said it hopes to rehire the laid-off workers, who had been furloughed already, once it is safe to reopen entertainment and sports venues. MGM has previously told about 63,000 employees they would be furloughed through the end of August but did not specify how many workers will be affected by the layoff notice, according to the newspaper.

“Given that it is unlikely that concerts and other entertainment events will be returning to Las Vegas in the next month, it has unfortunately impacted the employees who support those shows. We’ve pledged to be as transparent and supportive as possible with employees and are working to reduce the impact and help them moving forward,” MGM Resorts International Director of Media Relations Brian Ahern said in a statement.

“We’re continuing to coordinate with public officials and look forward to the time when we can bring back employees to support our entertainment offerings and relaunch entertainment for our guests,” he added.

https://thehill.com/blogs/blog-briefing-room/news/509352-mgm-notifies-large-majority-of-entertainment-sports-divisions

For the indefinite future, things like conventions will not be held. The January 2021 Consumer Electronics Show, one of the largest conventions hosted in Las Vegas, is going all virtual.

https://www.ces.tech/planning-for-ces-2021.aspx

[Demovictory9]

4. Every annually held convention in my.field has gone virtual

Huge loss to new orleans, orlando and las vegas.

The big conventions cycled among these 3 cities

[Klaralven]

6. Technical and scientific conferences are also going virtual

And they are finding that more people can attend, more time can be given to presenters, full presentations can be posted rather than terse poster papers, and more people can dialog with presenters in a way that can be seen by all.

[Demovictory9]

11. And much cheaper.for companies..i wonder if things will

Ever return to pre covid

[Klaralven]

13. Also for grad students and post-docs on limited budgets, and academics in general.

[regnaD kciN]

5. The notion of a "Virtual C.E.S." is insanity...

I used to work C.E.S. as a computer game developer in the '90s. The whole purpose of C.E.S. was a) to get "hands-on" exposure to a multitude of consumer-electronics products and b) to meet, greet, and potentially make deals with those in the industry who you normally would have no way of contacting. You won't be able to do the latter any easier than you could by calling and trying to make a phone appointment normally beforehand (damn near impossible, unless they already want to meet with you), and seeing promotional videos or presentations online isn't the same as "hands-on" experience; it's little different than visiting a website nowadays, except for the effort it takes to even find out about the existence of websites of companies you never heard of before, whereas you could just walk over to them on the convention floor and see what they were offering.

Personally, I think they should just cancel C.E.S. altogether until they're able to hold one in-person, because there's simply no way to do a reasonable facsimile of that "virtually."

[Amishman]

3. We'll see lots of this in the upcoming months

Entertainment and tourism businesses are awash in red ink. Sports outside the big three (NFL,NBA,MLB) are hurting bad, especially the venues that aren't owned by the sanctioning body.

[underpants]

9. Can I add?

Remember that when the flu season hits every with that will look like they have COVID - until they get tested

This is going to be a remarkable holiday season. Other than decorated masks all kinds of activities are gong to be changed.

[634-5789]

10. Exactly.

And here's Tubby McTraitor pushing to get college teams back on the field. MORON!

[SpaceNeedle]

7. Nevada becomes a lock for Biden as this continues

although I feel for the people being laid off during the pandemic.

[634-5789]

8. Expect to see more of these casino closures.

Our local 'boat' owned by Boyd Gaming is a joke. I curiously went a couple days a go, and left immediately. Sad sight, employees wearing masks while players are not. I won't be going back, and...they closed the only decent buffet around also, so those jobs are never coming back either.

[Demovictory9]

12. Buffets are history

[LovingA2andMI]

14. Most Definitely...

Will never eat at one again.

[SoCalNative]

16. Not forever

they will be back. Just not anytime soon.

[PSPS]

15. Casinos are a defunct business model now, like movie theaters, cruises, recreational flying, etc.

Some of those businesses still operating will just take longer to progress beyond the "denial" stage.

[Wellstone ruled]

17. Next big group to hit the sidewalk will

be Sands Corp. followed by Red Rock. Once the PPE money ends it will be one hell of a wallop. Tuesday will be hell to pay here in Vegas. Followed by Thursday when the Rent Moratorium starts to go away.