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Casino operator Wynn Resorts Ltd. says it plans to save $75 million to $100 million annually by cutting pay of all salaried workers in Las Vegas, reducing hours for hourly employees and eliminating retirement account contributions and bonuses for 2009.
Chief executive Steve Wynn said Tuesday that the changes would affect employees of the Wynn Las Vegas and Encore casino-resorts on the Las Vegas Strip.
Wynn says employees are finding out about the changes on Tuesday and Wednesday.
Wynn says the goal of the cost reductions is to run the casinos more efficiently and protect the jobs of its employees.
The Las Vegas-based company opened the 2,034-room, $2.3 billion Encore in December.
Wynn says the cuts in Las Vegas do not affect the company's Macau casino in China.
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Wed Feb 04, 2009 8:30 am
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