International Game Technology (IGT) is set to lay off around 700 employees worldwide, accounting for nearly 10 per cent of its global workforce. The move comes as part of a broader effort to streamline operations and realign resources under its new leadership.
The decision follows a strategic review led by Hector Fernandez, CEO , who took charge after the company’s acquisition by Apollo Global Management alongside Everi. Over the past few months, the leadership team has been assessing business priorities, operational structures, and areas of overlap.
The layoffs are aimed at simplifying the organisation and reducing duplication across teams. The company is looking to create a more focused structure that can respond faster to changes in the gaming and technology landscape. The job cuts are not linked to individual performance but are part of a broader structural reset.
There is currently no clarity on how the layoffs will be distributed geographically. It remains uncertain whether they will be concentrated in key locations such as Las Vegas or spread across global operations.
Reportedly, the company has confirmed that affected employees will receive severance packages along with transition and outplacement support. These measures are intended to ease the impact of the workforce reduction.
The restructuring marks a significant step in integrating operations following the recent acquisition. It reflects a wider trend in the industry, where companies are consolidating functions and focusing on efficiency to stay competitive.
While the layoffs signal a challenging phase for employees, the company is positioning the move as necessary to build a more agile and future-ready organisation.
