Foxwoods Casino Lays Off Employees Due To Rising Gas Prices

Casinos everywhere are facing the same economical problems that every other industry is currently facing. Rising gas and food prices are causing companies to part ways with many of their employees.

Foxwoods Resort Casino in Connecticut has become the latest casino to fire employees because of the state of the economy. They laid off many employees on Thursday.

The casino has not left the fired employees complete out to dry. Each employee that was laid off on Thursday will receive two weeks severance pay for every year they have been with the casino. The package is up to thirteen years of service, and will also include health benefits.

"This has been a difficult week for all of us. It is always sad to see fellow employees lose their jobs. As organizations develop, they often grow more than necessary during a sustained period of economic success," said Foxwoods President Barry Cregan.

Rising food and gas prices have cost many casino workers in the United States their jobs. Before, it had been widely thought that casinos were immune to the financial problems of the economy. That has proven not to be the case this year.

The cuts by Foxwoods, while in numbers seems like a lot of employees, comes out to less than two percent of all of their employees. They have 10,000 employees and would not reveal exactly how many have been laid off on Thursday.

June 27, 2008
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
Submit News!