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Article: Wynn Resorts Announces Efficiency Initiatives to Be Implemented Immediately in Las Vegas.
- Article from:
- Business Wire
- Article date:
- February 4, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LAS VEGAS -- Wynn Resorts, Limited (Nasdaq: WYNN) announced today that a number of efficiency initiatives would be implemented at Wynn Las Vegas focused on keeping full-time staff employed in these uncertain times. These initiatives include reductions in pay for all salaried employees in Las Vegas, reduced work weeks for full-time hourly employees, the elimination of 2009 bonus accruals and a suspension of the employer match to the 401K contributions. The Company believes this initiative plus other operational efficiencies will save approximately $75-100 million annually.
Steve Wynn, Chairman and CEO of Wynn Resorts commented, "The management team at Wynn Resorts ...
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