International Game Technology (IGT) is set to reduce its global workforce by around 700 employees, representing approximately 10 percent of its staff, as part of a broad restructuring effort led by new chief executive Hector Fernandez.
The move comes just months after Fernandez took charge in December, following IGT’s acquisition by Apollo Global Management alongside Everi. The layoffs form part of a strategy aimed at simplifying operations and sharpening the company’s competitive focus.
Internal review drives workforce realignment
In a message to employees, as reported by the Last Vegas Review-Journal, Fernandez said the decision followed an extensive internal review of the business, its structure and long-term priorities. He explained that the company needed to realign its resources to better support future growth and operate more efficiently in an evolving gaming industry.
The job cuts are not linked to individual performance but are instead driven by organisational restructuring. The aim is to integrate operations more effectively following the recent merger and eliminate duplication across teams.
Focus on efficiency, speed and organisational clarity
Fernandez acknowledged the difficulty of the decision, noting that changes to the company’s structure were necessary to create a more agile and focused organisation. He said IGT has already completed significant groundwork in recent months to strengthen its position, with the latest measures designed to improve speed, clarity and execution.
It remains unclear how the layoffs will be distributed geographically, including whether they will significantly impact IGT’s operations in Las Vegas or be spread more evenly across its global footprint.
Severance and support offered to affected employees
The company confirmed that affected employees will receive severance packages, along with outplacement assistance and transition support to help them move into new roles.
Addressing remaining staff, Fernandez recognised the emotional impact of the announcement, stating that feelings of uncertainty and concern are natural during such transitions. He emphasised the importance of maintaining focus on the company’s strategic priorities and supporting colleagues through the changes. Despite the workforce reduction, Fernandez expressed confidence in IGT’s future.
Apollo’s acquisition of IGT
In July, Apollo Global Management completed its $6.3 billion acquisition of gaming technology supplier Everi Holdings and the Gaming and Digital businesses of IGT, forming a new powerhouse in the global gaming and FinTech sectors.
The newly merged company operates under the IGT name and is headquartered in Las Vegas, with the Everi brand retained in select markets and product lines. According to Apollo, the restructured entity will focus on three core segments: Gaming, Digital, and FinTech.
The acquistion came days after IGT’s global lottery division was spun off and started trading under the name Brightstar Lottery. The rebranding marked the final step in separating IGT’s lottery operations from its gaming and digital businesses.
Brightstar already has a significant global presence, supplying nearly 90 lottery operators across six continents. In the United States alone, it provides technology for 26 of the country’s 46 lottery jurisdictions. It also supports seven of the world’s ten largest lotteries, making it one of the most influential companies in the sector.
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