The letter, shared with employees yesterday (23 March) and first reported by the Las Vegas Review-Journal, said the layoffs were not performance driven, but rather “required to align resources with business priorities and streamline operations, ensuring we are best-positioned for future growth.”
Former Aristocrat Gaming CEO Fernandez was appointed as IGT CEO in December 2025, following the divestment of its lottery division and $6.3bn merger with Everi Holdings, led by private equity giant Apollo Global Management in July 2025.
Layoffs intended to simplify business structure
“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 wrote to employees in the letter.
“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. As part of that review, we also had to make some difficult decisions about how our organisation is structured, and this work has led to a difficult but necessary step.”
Fernandez argued that since taking on the CEO role, the business had “completed much of the foundational work needed for a stronger, more competitive organisation,” with the layoffs forming part of its plans to simplify its structure and reduce duplication.
IGT pledges support to affected employees
Severance packages, outplacement support and transition resources are being provided to affected employees, he added.
“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.
“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. 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.”
It remains unclear where the affected roles are based geographically, which business areas will be affected, and what the expected cost savings will be for IGT.
NEXT.io has contacted IGT for additional information.
Dingnews.com 25/03/2026