International Game Technology (IGT) has begun reducing its workforce by approximately 700 roles worldwide, representing about 10 percent of its global employee base. The move follows an internal review led by CEO Hector Fernandez, who outlined the decision in a companywide communication to staff.

Strategic Review Leads to Workforce Reduction

The layoffs come after months of evaluation that started shortly after Fernandez assumed leadership. The restructuring is intended to adjust the company’s operational structure and align resources with strategic priorities.

“Today, we began eliminating approximately 700 roles globally, representing about 10 percent of our workforce,” Fernandez wrote. “This reduction is required to align resources with business priorities and streamline operations, ensuring we are best-positioned for future growth.”

The company’s latest decision traces back to commitments made during a December town hall, where Fernandez indicated that IGT would move quickly to assess its internal structure. That review has now resulted in organizational changes designed to simplify operations and remove overlaps.

“When we met in December for our first companywide town hall since I started as incoming CEO, I said we would move quickly to evaluate our business and make decisions to strengthen it,” Fernandez said. “Over the past several months, we have kept that commitment. We examined where we focus, how we operate, and how our structure supports our strategy.”

He added that restructuring required adjustments to how teams are organized. “As part of that review, we also had to make some difficult decisions about how our organization is structured, and this work has led to a difficult but necessary step.”

The company emphasized that the layoffs are not tied to employee performance. Instead, they reflect a broader shift in how IGT intends to operate following recent corporate changes and acquisitions.

Fernandez stated that the cuts “reflects the structural alignment required to operate as one company, leverage our combined strengths, and compete with focus and discipline in a changing industry.”

Operational Changes Follow Ownership Shifts

The restructuring follows a series of significant developments in IGT’s corporate structure. The company recently came under new ownership after a $6.3 billion acquisition by Apollo Global Management, which also involved Everi Holdings. The combined operations are now headquartered in Las Vegas.

IGT has not disclosed how the layoffs are distributed geographically, including whether a significant portion affects employees in Nevada. However, officials confirmed that reductions will take place across global operations.

The company has a long history in the gaming sector, having been founded in Reno in 1975. It expanded rapidly over the following decades, becoming a major manufacturer of slot machines and related gaming technology. Today, its operations include land-based gaming machines, digital gaming products, financial technology services, and systems for casino operators.

Fernandez indicated that the company has already completed much of the groundwork needed for its next phase. “In recent months, we have completed much of the foundational work needed for a stronger, more competitive organization,” he said. “The changes we are announcing today are part of that effort to simplify our structure, reduce duplication, and enable us to move with greater clarity and speed.”

The company confirmed that employees affected by the layoffs will receive severance packages and transition assistance. Support measures include outplacement services and additional resources to help individuals move into new roles.

“For those leaving IGT as part of this action, we are committed to providing severance, outplacement support and transition resources,” Fernandez said.

He also acknowledged the impact on remaining staff, noting that the changes could create uncertainty across teams. “For those remaining, you may feel sadness for colleagues, concern about your teams, or uncertainty about the future. Those feelings are natural in moments like this.”

Despite the workforce reduction, IGT maintains that it is positioning itself for long-term growth. The company plans to continue focusing on its core areas, including gaming content, systems, hardware, and financial technology services.

“What matters now is how we move forward together: supporting one another, focusing on our priorities and continuing the work that will define the next chapter of our company,” Fernandez said, as reported by Las Vegas Review-Journal. “We came together to build a company that can lead in a rapidly evolving industry, and I remain confident in that opportunity and in the strength of our team.”

IGT indicated that this restructuring is expected to be the final large-scale workforce adjustment tied to its integration efforts, though smaller targeted changes may still occur over time.