MGM Mirage Cuts 440 Jobs

Las Vegas casino operator MGM Mirage has said it is cutting 440 jobs, the Wall Street Journal reported on Tuesday, signaling the effect of a slowing economy on the casino industry.

A significant part of the cuts will be made in Las Vegas where MGM Mirage owns 10 properties, the report said, quoting the casino operator's spokesman Alan Feldman.

"It's no secret: Business levels are down," Feldman was quoted as saying in the report.

Read the whole story: Reuters

Comments

[JoeBlough]

03:24 PM on 04/15/2008

I hope this means the room prices will fall. I haven't been Las Vagas since I could get a room at the Excalibur for $35 a night. And for a family of 4, that was a great price.

[DC8P4DCEFE]

03:18 PM on 04/15/2008

Vegas is for suckers

[dadw5boys]

10:36 AM on 04/15/2008

1 employee can provide services for 15 customers in a Casino so that mean 440x15 = 6600 fewer customers per week.

[Sundialsvc4]

09:30 AM on 04/15/2008

What we are seeing here, and we are seeing it all across the board, is that "service jobs are shallow." An economy based on "service jobs" therefore cannot sustain a "consumer nation" ... nor can it sustain a real-live nation containing more than 300 million men and women just like you-n-me. We need to stop pretending that it does.

In our youth, we had a strong and vibrant economy: we remember it, don't we? It was a redundant economy, and therefore strong, just like the highly-redundant network infrastructure of this Internet (although built from weak pieces) is strong and resilient. It was strong enough to sustain "comfortable excesses" like Las Vegas... a pleasure-palace city from times when ordinary Americans could afford pleasure.

We can't grow, nurture and plant a healthy crop of "paper roses." We can't survive a game of musical chairs. And we don't have to. Our grandfathers didn't. Remember?

[DC8P4DCEFE]

09:37 AM on 04/15/2008

Las Vegas a pleasure?/

How many fools do you think leave there a winner? Its a suckers game.

[dadw5boys]

10:37 AM on 04/15/2008

THE RIGHT WING CHRISTAINS LOVE LAS VAGAS GO FIGURE.

[DC8P4DCEFE]

08:12 AM on 04/15/2008

Going to Las Vegas and thinking you are going to hit the jackpot is a pie in the sky dream.

They didn't build all that glitz with peanuts you know.

Its a mugs game .