Job Cuts Coming At Foxwoods
MASHANTUCKET, Conn. (AP) _ Foxwoods Resort Casino has told employees it will cut jobs, though Chief Executive Scott Butera says the number will be modest.
The Day of New London reports that Butera would not say how many jobs are at stake.
The newspaper quotes Butera in a memo to employees saying Foxwoods must adjust to declining business. The newspaper says that in the memo it obtained, Butera cited the weak economy and its impact on casinos, which rely on consumer spending.
Butera told employees that the Mashantucket Pequot Tribe, which owns Foxwoods, is close to completing a $2.2 billion debt restructuring plan.
Foxwoods reported a 12 percent drop in slot-machine revenue for January, the fifth straight month of double-digit declines. Foxwoods and its neighbor, Mohegan Sun, also face increasing competition in the Northeast.
Information from: The Day, http://www.theday.com
(© Copyright 2013 The Associated Press. All Rights Reserved. )