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November 9, 2009

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Company details cuts

Friday, Sept. 28, 2001 | 9:40 a.m.

Previously disclosed layoffs at Mandalay Resort Group in the last 10 days now total about 15 percent of its 30,000-person Nevada workforce, a top company executive said today. That would equate to roughly 4,500 jobs lost at Mandalay's Nevada casinos.

John Marz, senior vice president of marketing at Mandalay, said the company wants to bring the workers back "as quickly as we possibily can, but it will all depend on the level of business, and how quickly that business comes back." While business is down, Marz said the company's top 100 executives have agreed to take pay cuts totaling about $5 million on an annual basis.

Mandalay operates five casinos on the Las Vegas Strip.

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