IGT to Cut 10% of Jobs in Operational Streamlining Effort

(AsiaGameHub) –   IGT, a leading slot machine manufacturer, is preparing to let go of approximately 10% of its workforce. Company officials stated that this step will help the firm focus on its current priorities by streamlining operations.

IGT Reduces Its Workforce by a Significant Margin

According to the announcement, the layoffs will result in IGT cutting around 700 workers across its global office network. This equals roughly 10% of the company’s total employees and comes as it works to build a more focused operational foundation.

CEO Hector Fernandez announced the layoffs in a letter distributed to company employees, explaining that the move is necessary to align the company’s resources with its business priorities. Fernandez emphasized that this is critical for IGT, which continues to pursue ambitious growth goals.

Fernandez added that since taking on the CEO role, he has aimed to position the company for further growth. He stressed his ongoing commitment to evaluating the business and making decisions to strengthen it.

As part of that review, we also had to make some difficult decisions about how our organization is structured, and this work has led to a difficult but necessary step.

Hector Fernandez, CEO, IGT

Fernandez rejected the idea that the layoffs are performance-driven, noting that their ultimate goal is to ensure IGT remains focused and adaptable to industry changes.

All Impacted Employees to Receive Severance Packages

IGT confirmed that severance packages are being offered to all employees facing layoffs. Fernandez explained that everyone leaving IGT as part of this initiative will also receive outplacement support and transition resources.

He also acknowledged that other team members might feel sad about their colleagues or concerned about the future. While he recognized these emotions as natural, Fernandez said the key is for IGT’s team to move forward together.

We came together to build a company that can lead in a rapidly evolving industry, and I remain confident in that opportunity and in the strength of our team.

Hector Fernandez, CEO, IGT

Fernandez promised that the streamlining efforts will ensure the future IGT continues to drive innovation, execute strategic priorities, and deliver best-in-class services.