Venetian and Palazzo Resorts Lay Off Top Employees in Cost-Cutting Measures

The prominent Las Vegas Strip casino resorts Venetian and Palazzo recently confirmed significant changes in their workforce. The popular fixtures, operated by Apollo Global Management, slashed their workforce as part of a comprehensive plan to streamline their organizational structure by reducing leadership and management positions.

Of the vast 8,500+ workforce, those affected by the cut are less than 50 employees. The resorts focused on senior-level staff across different departments, including marketing, hotel operations, and casino hosts.

Means to Enhanced Operations

Apollo Global Management explains that the staff changes are well-thought-out to encourage rapid decision-making and efficient management in the resorts’ structures. The dismissals only affect employees holding high-level positions, from hotel operations, celebrations, and marketing to casino hosting, group meetings, and banquets.

In an internal memo acquired by the Las Vegas Review-Journal, the resorts state that the purge aligns with operational objectives: “As part of our commitment to delivering exceptional service and remaining agile in a rapidly evolving industry, we have made the decision to streamline our organizational structure. By reducing layers within our leadership, we can act more swiftly, make decisions more efficiently, and ensure a closer connection between our frontline teams and senior leaders.”

Support for Impacted Employees

Reports state that the casino resorts are committed to aiding the affected staff with severance packages suited for each one’s role, seniority level, and time of service.

The Venetian stated, “We remain dedicated to supporting all affected team members and positioning our company for continued growth and success. The restructuring will allow us to operate more effectively, create new opportunities, and maintain our focus on providing extraordinary experiences for our guests and team.”

The specifics of the severance packages remain confidential due to non-disclosure agreements. However, some laid-off employees have described the packages as inadequate.

Major Renovations

While staff reductions are underway, the Venetian is also in the midst of a $1.5 billion renovation, arguably the most expensive hotel renovation of all time. Some sections of the extensive undertaking have already kicked off commercial operations, such as the Venetian Expo Center and high-limit room. The casino resort also features a new poker room, which is a welcome addition at a time when venues are shutting down poker rooms due to declining interest.

The Venetian has also partnered with South California’s Pechanga Resort Casino to reward loyalty cardholders. This marks the first collaboration between a prominent Strip fixture and a tribal casino.