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Wednesday, February 04, 2009

Reno Jobs with IGT Cut

A leading gaming company is planning to cut more Reno jobs. To learn about Reno jobs, click here.

International Game Technology
, a company that makes gambling machines, recently announced its plan to cut another 200 jobs. The cuts are being made to help the company boost its efficiency amidst the tumbling economy.

The company already cut 300 jobs during November 2008, and total personnel cuts during 2008 totaled more than 10 percent of the IGT's global workforce. The company now has a little more than 5,000 employees, according to an article by MSNBC.

"This effort is geared to better align IGT supply chain capacity and resources to the demands of the market," Tony Ciorciari, executive vice president of operations for IG, said in the article. "This restructuring effort is targeted to be complete by April."

Most of the previously cut employees were laid off or received buyouts. Those positions were cut at the company's headquarters. IGT, which is the world's largest maker of slot machines and casino systems, expected to lost about 500 workers from a total of 5,400. About 3,000 workers are currently employed at the headquarters.

IGT's manufacturing functions are mainly based in Reno with some related activities taking place in Las Vegas. While the job cuts have some employees worrying about their future, the company has no plans to move or close anytime soon.

"We have no plans to change existing charters for these facilities," Ciorciari added. "Reno is and will continue to be the main headquarters of our manufacturing function."

The company has blamed the slowing economy and an "unprecedented" decline in casino play for its lower third-quarter earnings. It also reduced its profit forecast for the rest of the year and into early 2009 to a range of 30 cents to 35 cents per share from a range of 35 cents to 40 cents per share.

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