Craps! Casino Cuts Pay of All Employees
Casino also suspended future pay raises
Updated 7:15 AM EST, Mon, Jan 12, 2009
Officials at the Mohegan Sun casino said they will be reducing the pay of all 9,800 employees but will avoid layoffs in new cost-cutting moves spurred by declining revenues.
The Mohegan Tribal Gaming Authority announced Sunday that it will cut pay for vice presidents and senior management by 10 percent, middle managers' pay by 7.5 percent and the pay for nonmanagement salaried and hourly employees by 4 percent. The cuts will be take effect Feb. 1.
The gaming authority also said it will be suspending all future pay raises and stopping the company's matching payments to retirement plans.
Mohegan Sun has cut more than 500 jobs through attrition over the past year and delayed an expansion project. The competing Foxwoods Resort Casino has laid off 800 casino workers since last summer.
Copyright Associated Press
First Published: Jan 12, 2009 6:53 AM EST
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