IGT Cuts 700 Jobs Following Everi Merger Restructuring

^{IGT's booth at the Global Gaming Expo in 2025. The company will be laying off 700 workers to eliminate overlap. (Photo: IGT / Facebook)} 

International Game Technology (IGT) is cutting about 700 jobs, roughly 10% of its global workforce, as part of its post-merger restructuring with Everi.

But this isn’t a surprise.

The layoffs come less than a year after Apollo Global Management announced its $6.3 billion acquisition and combined IGT’s gaming and digital business with Everi’s fintech and slot machine operations. The result is a privately held company that touches almost every part of the casino ecosystem, from games to payments.

Layoffs Announced Following CEO Review

The cuts were announced by IGT CEO Hector Fernandez in a letter to employees on Monday, March 23.

They follow a December town hall where Fernandez told employees he would move quickly to evaluate the combined company and implement a strategy to strengthen IGT’s long-term position in the industry.

In a memo to employees obtained by the Las Vegas Review-Journal, CEO Hector Fernandez said the cuts are part of an effort to “simplify our structure, reduce duplication, and enable us to move with greater clarity and speed” as the two companies are integrated.

Affected employees will receive severance, outplacement support, and other transition resources, though details vary by country and role in the company.

Fernandez said IGT has spent the past few months reviewing “where we focus, how we operate, and how our structure supports our strategy.” The layoffs, he said, are necessary to align resources with business priorities and position the company for future growth.

IGT hasn’t said which divisions or locations will see the most cuts, or how many jobs are based in Nevada. The combined company is headquartered in Las Vegas but still operates legacy offices from both IGT and Everi.

The company has had a significant footprint in Nevada. By 1984, it became Northern Nevada’s largest industrial employer, and by 1989, the company had produced roughly half of the world’s slot machines.

This is Normal Post-Merger Activity

This is the first major restructuring since the merger closed. In simple terms, it’s the part where the new company starts eliminating overlap and figuring out how everything fits together.

There’s nothing unusual happening here.

When two companies combine, they almost always end up with duplicate roles across departments like corporate, technology, and back-office operations. The new company doesn’t need two teams doing the same job.

When the deal was announced, IGT said it expected about $85 million in cost savings and noted there could be additional opportunities as the integration moves forward.

Here’s a recent comparison: when Caesars Entertainment merged with Eldorado Resorts in 2019, the combined company targeted $500 million in synergies. That’s industry speak for eliminating duplicate expenses.

IGT and Everi overlap in several key areas. Consolidating offices and business functions is a typical next step. More changes are likely as the integration continues.

What It Means for Players

It’s too early to know exactly how this impacts casino guests since the specific roles affected haven’t been disclosed.

In the short term, don’t expect any noticeable changes on the casino floor.

IGT’s Wheel of Fortune slots aren’t going anywhere, and neither are Everi’s Cash Machine slots.

At last year’s Global Gaming Expo, the company showed its first collaboration between the two brands. Those games are expected to reach casino floors this year. More games are expected to be on display at G2E later this year, when the show returns to Las Vegas in late September.