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Update : MGMMirage Layoffs Not Caused By Recession

By Chuckmonster on Friday, 18th April 2008 6:55am
  » filed under MGM Mirage  comments: 2

   

MGM sub-honcho Jim Murren told the Las Vegas Sun that their recent layoffs weren't a result of the economic downturn, but instead a previously planned management reorg.

Take it away Bruce Nourse, VP of Public Affairs, MGMMirage Mississippi (who released this statement along with the layoff announcement :

We're all aware of the downturn in the U.S. economy and as a result revenues have softened and profit margins are down across the gaming industry. This along with increased competition in our market has forced us to adjust our employment levels to reflect the changes in our business volumes.

This very difficult process is occurring at every property and at the corporate level of MGM Mirage.

As a result we have eliminated positions and terminated approximately 100 total employees at MGM Mirage's Mississippi properties - the Beau Rivage Resort and Casino, and the Gold Strike Casino Resort.

Maybe someone needs to rewind the Eye In The Sky recordings and see exactly what happened. Hmmmmm?



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Comments & Discussion:

Looks like Jim and Bruce need to get their stories straight. I think Bruce sees the 800 lb gorilla in the room, but Jim needs to put his glasses on. The corporate officers in the gaming industry are obviously unwilling to admit what the rest of us already know. Business is down. I guess if they do not acknowledge it, then it is not a reality to them.

i agree. mgm mirage is one of the better companies out there in the casino biz. their top brass is smart as all get out and by and large their properties are truly fantastic. possibly murren's comments are intended to be a retraction of earlier statements (like the one by Nourse).



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