SPRINGFIELD, MA (WGGB/WSHM) -- MGM Resorts International is cutting more than 200 jobs, including two at MGM Springfield.
CEO Jim Murren said in a letter to employees that today, they notified 254 people across the company that their positions would be eliminated.
"These are difficult decisions, ones no leader wants to make. But they set the stage for future growth and greater job creation in the long run, a responsibility I take seriously as the leader of this Company," Murren explained.
The moves are part of the company's 'MGM 2020' overall plan, which includes improved efficiencies, cost reductions, and positioning MGM for growth. The company hopes the plan will result in a boost of earnings by $200 million by the end of 2020 and another $100 million by the end of 2021.
Murren noted that "one more round of position eliminations" will occur within a few weeks.
"We would not be taking these steps if we did not believe they were necessary to serve the long-term interests of the Company. These decisions will help make our Company better and stronger for years to come, but I also know that doesn’t help lessen the anxiety created for you, your families and your teams. I am confident in our ability to address the challenge before us and also know we are where we are as a Company because of our dedicated employees." Murren added.