MGM Mirage is coping with slumping revenues by cutting 440 management positions. The savings come to about $75 million annually.
"It's no secret: Business levels are down," said MGM Mirage spokesman Alan Feldman.
Feldman said the company "tried to be strategic" about which of the its 66,000 employees to dismiss across its operations. Most of the staff cuts come from Las Vegas, where MGM Mirage owns 10 properties.
Gambling revenues declined for the second straight month in March, and the share price of many American gambling companies has fallen in recent months.
As the Wall Street Journal puts it: "The cuts are the latest signal that the gambling industry -- long thought to be somewhat recession-proof -- has become more exposed to travel-industry slumps as casinos have largely shifted from gambling to entertainment, fine dining and retail."