August 23, 2014
LAS VEGAS (AP) - Donald Trump insists they're not layoffs. But he says he's cutting the work hours of about 70 employees at his new Trump International Hotel & Tower on the Las Vegas Strip.
Trump says that when sales pick up for the 1,282 luxury units,
the employees will be brought back.
Jim Petrus, chief operating officer of the Trump Hotel Collection, says the move affects about one in five of the 400-plus employees at the 64-story residential tower. The gold-windowed building opened March 31 at a cost of $1.2 billion.
Before opening, Trump said all the units had been reserved at prices between $700,000 and $5 million by buyers who put up 20 percent nonrefundable deposits.
On Thursday, Trump and Petrus said 400 individual units had
closed or were in the process.
Information from: Las Vegas Review-Journal, http://www.lvrj.com
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