Months after laying off nearly 200, Foxwoods to cut 700 jobs
3:58 PM Tue, Sep 30, 2008 | Permalink
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Foxwoods Resort Casino in Ledyard, Conn., will cut 700 jobs during the next few weeks. The Mashantucket Pequot Tribal Nation, the tribe that owns the casino, made the announcement today to employees of Foxwoods and MGM Grand at Foxwoods, according to a news release this afternoon. The new round of reductions come after Foxwoods said in June that it had laid off nearly 200 employees, believed to be the first layoffs in the casino's 16-year history and part of a move to reduce $40 million from the tribal budget, the Journal reported in late June. "As is happening to so many organizations, the economic issues facing our nation and regional consumer economy have negatively impacted our revenue growth," Tribal Council chairman Michael Thomas said in the statement. "Although it has taken a few months, the recession's impact can now clearly be seen in our industry." Thomas goes on to state that "unfortunately, the time has arrived when we must face the difficult decision and align our payroll costs with current revenue levels." According to the statement, nearly 11,000 people work at Foxwoods and MGM Grand. The Tribal Council approved cuts submitted by senior management. -- projo.com staff writer Michael P. McKinney 
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