October 20, 2014
LAS VEGAS (AP) - Casino operator Las Vegas Sands has laid off
283 people from its Las Vegas resorts.
Company spokesman Ron Reese says the affected employees worked
in the corporate offices as well as the Venetian and Palazzo resorts on the Las Vegas Strip.
Reese says the Friday layoffs are part of broader cost-reduction measures at the company. The company is facing huge interest costs
because of a debt load topping $10.4 billion.
The pressure comes as business at its casinos has been badly hurt by the recession.
Reese says nearly 7,000 full-time equivalent positions remain in Las Vegas.
The company continues to plan a May 22 opening for its $778 million Sands Casino Resort Bethlehem in Pennsylvania.
Also under construction is a $5.4 billion resort in Singapore due to open at the end of the year.
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