MGM Resorts to cut almost 1K jobs in June

LAS VEGAS (KTNV) – MGM Resorts International plans to continue with a cost-saving initiative that includes eliminating approx. 1000 positions in the company by June.

This number includes the 254 positions previously announced that the company eliminated last week, according to a

report

.

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In January, MGM announced plans to cut costs to help grow company in a program called "MGM 2020."

The program is intended to lay the foundation for the company's digital transformation, and MGM hopes it will lead to a reduction in labor costs by 3 per cent.

Formerly, company managing director Jim Murren wrote a letter distributed to employees who read in part:

"We need to create a company that is streamlined, nimble and strengthens leaders. These consequences are felt throughout the company and this is a comprehensive change which is meant to be transformative. "

The decisions of the MGM 2020 are to make the company better and stronger in the years to come, according to Murren's letter.