Senior employee layoffs
The Venetian and Palazzo casinos have laid off several employees across multiple departments.
The casinos parted ways with many employees including senior-level staff working in management across multiple departments, including hotel operations, marketing, and casino hosts.
The Venetian stated that fewer than 50 out of more than 8,500 employees were affected
The Las Vegas Review-Journal gained access to an internal memo which states that the aim of the layoffs was the need to streamline by “reducing leadership and management positions.” The Venetian stated that fewer than 50 out of more than 8,500 employees were affected by the cuts.
Streamlining plan
Speaking to the Review-Journal, a spokesperson for the Venetian issued a statement, saying: “As part of our commitment to delivering exceptional service and remaining agile in a rapidly evolving industry, we have made the decision to streamline our organizational structure.”
this change was made with thoughtful consideration and guided by our core values”
“By reducing layers within our leadership, we can act more swiftly, make decisions more efficiently, and ensure a closer connection between our frontline teams and senior leaders. This change was made with thoughtful consideration and guided by our core values, recognizing that transitions like these can be challenging.
“We remain dedicated to supporting all affected Team Members and positioning our company for continued growth and success. This restructuring will allow us to operate more effectively, create new opportunities, and maintain our focus on providing extraordinary experiences for our guests and team.”
Reports stated that severance packages for employees were dependent on position, seniority, and time of service. While non-disclosure agreements prevent exact details from being disclosed, they were described as “inadequate” by one former employee.
More Vegas layoffs
The move comes during a $1.5bn upgrade for the Venetian, which was billed by the casino as “the largest and most expensive hotel renovation in history”. Among the areas of the project which are already completed and operational are the Venetian Expo Center, the poker room, and the new high-limit room.
The Venetian has also not been the only property in Las Vegas to be making layoffs recently. This week, it was also reported that Fontainebleau Las Vegas had also laid off a number of staff members across multiple departments.
In that case, employees were issued just two weeks of severance pay, even for senior and higher-level positions.