Over 700 members of staff now face redundancy
Having completed its merger with fintech and slot manufacturer Everi last year, slot giant IGT is now making around ten per cent of its global workforce redundant, equating to about 700 members of staff, in a move that CEO Hector Fernandez says ‘reflects the structural alignment required to operate as one company, leverage our combined strengths, and compete with focus and discipline in a changing industry.’
Apollo completed the acquisitions of International Game Technology Gaming & Digital Business and Everi Holdings by a holding company owned by funds managed by Apollo affiliates for $6.3bn in July 2025. It warned back then that the two companies would be integrated into a combined enterprise.
Now, in a letter sent to employees but seen by the Las Vegas Review Journal, CEO Hector Fernandez said: “The reduction is required to align resources with business priorities and streamline operations, ensuring we are best-positioned for future growth.”
“When we met in December for our first companywide town hall since I started as incoming CEO, I said we would move quickly to evaluate our business and make decisions to strengthen it. Over the past several months, we have kept that commitment. We examined where we focus, how we operate, and how our structure supports our strategy.
“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,” he said.
Fernandez said the layoffs weren’t ‘performance driven.’
“In recent months, we have completed much of the foundational work needed for a stronger, more competitive organisation,” he added. “The changes we are announcing today are part of that effort to simplify our structure, reduce duplication, and enable us to move with greater clarity and speed.”
“For those leaving IGT as part of this action, we are committed to providing severance, outplacement support and transition resources. For those remaining, you may feel sadness for colleagues, concern about your teams, or uncertainty about the future. Those feelings are natural in moments like this,” he explained.
“What matters now is how we move forward together: supporting one another, focusing on our priorities and continuing the work that will define the next chapter of our company. 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.”
The post IGT to lay off around ten per cent of its workforce as it looks to streamline following merger with Everi appeared first on G3 Newswire.
Over 700 members of staff now face redundancy Having completed its merger with fintech and slot manufacturer Everi last year, slot giant IGT is now making around ten per cent of its global workforce redundant, equating to about 700 members of staff, in a move that CEO Hector Fernandez says ‘reflects the structural alignment required…
The post IGT to lay off around ten per cent of its workforce as it looks to streamline following merger with Everi appeared first on G3 Newswire.