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IGT announces layoffs, expects $30 million in savings

Reported by: Amber Dixon
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Updated: 3/27 6:47 am
LAS VEGAS (KSNV MyNews3.com) -- International Game Technology announced Tuesday that it is reducing its global workforce by 7 percent.

In a news release, the company said it expects to save $30 million in the current fiscal year and an estimated $50 million on an annual run-rate basis.

"As we reach the halfway point in our fiscal year, you can see this is a challenging time for the industry and IGT. We knew that our success in 2013 would be difficult to replicate.

"However, we did not expect such a sharp decline in North American gross gaming revenues, or further degradation in the international currency, compliance, and importation environment," said Patti Hart, IGT CEO.
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