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Wynn Resorts furloughing workers – Las Vegas Review-Journal


After paying its Las Vegas employees throughout the 78-day Nevada casino shutdown, Wynn Resorts Ltd. is set to place workers on furlough, effective this week.
“Although we retained all of our people while we were closed, we now know how challenged business volumes in Las Vegas are and are staffing to the significantly reduced demand,” spokesman Michael Weaver said.
Weaver declined to say how many employees would be furloughed.
The announcement comes as foot traffic in Las Vegas is reported to be slowing, with fewer visitors arriving as COVID-19 cases increase.
The Southern Nevada Health District reported more than 1,100 new cases of COVID-19 in the state on Wednesday, and a reported 28 deaths tied Tuesday’s count for the largest increase of daily reported deaths since the start of the pandemic.
As of Dec. 31, Wynn Resorts employed roughly 30,200 people across its operations in Massachusetts, Macao as well as Wynn Las Vegas and Encore in Las Vegas, according to filings with the Securities and Exchange Commission. About 16,400 of those were based in the U.S.
Statements from the company said it paid salaried, hourly and part-time U.S. employees through the casino closures. Payments included tip compliance rate or distributed tips or tokes for tipped employees.
Nevada casinos reopened June 4 and Encore Boston Harbor reopened July 12, bringing much of Wynn’s U.S. staff back to work.
A June statement from the company said it invested nearly $250 million in payroll expenses throughout the closure.
The furloughs come despite top executives forgoing 33 percent to 100 percent of their salaries to offset ongoing employee payroll and other expenses.
This is a developing story. Check back for updates.
Contact Bailey Schulz at bschulz@reviewjournal.com or 702-383-0233. Follow @bailey_schulz on Twitter.

Source : https://www.reviewjournal.com/post/2079027

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