Las Vegas Sands To Cut 4,000 Jobs
Layoffs Will Come From Hong Kong, Macau Projects
POSTED: 8:04 am PDT May 13,
2009
UPDATED: 8:17 am PDT May 13,
2009
LAS VEGAS -- In an effort to reduce costs amid dwindling revenue, the Las Vegas Sands Corp. plans to cut as many as 4,000 workers, according to a report in Bloomberg.The layoffs would come at properties in Hong Kong and Macau, where the company has stopped construction on a $12 billion resort complex.There has been talk of resuming construction in Macau sometime later this year, but no official announcement has been made.In March the company cut 283 jobs at the Venetian and Palazzo resorts in Las Vegas. More than 200 jobs were also cut in late 2008.Last week Las Vegas Sands reported first-quarter losses of $87.7 million, or 14 cents per share.
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