LAS VEGAS (KSNV MyNews3.com) --
International Game Technology announced Tuesday that it is reducing its global workforce by 7 percent.
In a news release, the company said it expects to save $30 million in the current fiscal year and an estimated $50 million on an annual run-rate basis.
"As we reach the halfway point in our fiscal year, you can see this is a challenging time for the industry and IGT. We knew that our success in 2013 would be difficult to replicate.
"However, we did not expect such a sharp decline in North American gross gaming revenues, or further degradation in the international currency, compliance, and importation environment," said Patti Hart, IGT CEO.