IGT Cuts 200 More Jobs

29 January 2009

International Game Technology told employees on Thursday that 200 more jobs must go.

In a prepared statement, the company said that 200 manufacturing-related positions will be cut to “improve business efficiencies in a sagging global economy.”

In November, the company laid off about 500 workers amid falling profits.

The industry supplier said it has completed an initial worldwide cost-reduction effort that included an eight percent workforce cut.

“We are focused on optimizing our margins so that our business is well-positioned to benefit from the future opportunities that will arise when economic conditions improve,” said Pat Cavanaugh, executive vice president and chief executive for International Game Technology.

“With that goal in mind, we will continue to look at all aspects of our business to improve efficiencies and reduce (research and development) and (selling, general and administrative) expenses where appropriate.”

Including those announced today, the company said total job cuts in the current fiscal year represent just more than ten percent of the total workforce worldwide, which remains at more than 5,000 employees.