In a significant move to realign its global resources, IGT has confirmed layoff plans to reduce its worldwide workforce by approximately 700 employees.
This reduction represents roughly 10% of the company’s total staff. According to an internal letter from CEO Hector Fernandez, the layoffs are a strategic necessity aimed at positioning the organization for long-term growth following the massive $6.3 billion merger with Everi Holdings and the subsequent divestment of its lottery division.
A Focus on Agility and Competitiveness
Fernandez, who assumed the CEO role last December, emphasized that these difficult decisions were made after a comprehensive several-month review of the company’s focus and operational structure. The workforce reduction, backed by Apollo Global Management, is intended to foster a more “agile” business model that can react quickly to high-growth opportunities.
“When we met in December… I said we would move quickly to evaluate our business and make decisions to strengthen it. Over the past several months, we have kept that commitment… this work has led to a difficult but necessary step,” Fernandez wrote.
Commitment to Transition Support
An IGT spokesperson clarified that the realignment and layoff is specifically designed to accelerate innovation and strengthen execution across the integrated legacy IGT and Everi businesses. To support those impacted, the company is providing severance packages, outplacement services, and exploring internal opportunities elsewhere in the firm where possible. This strategic shift is expected to streamline IGT’s operating model as it pursues a new phase of market leadership.
