Merry Christmas, Your Fired! Las Vegas Casino Tells Employees

It is not uncommon in these tough economic times, but it still comes as a harsh reminder every time someone is laid off this far into the holiday season that times are not getting any easier. Starting today, lay offs will be the fate of more than 200 Las Vegas Sands Corporation (NYSE: LVS) employees.

The company, taking a line straight from Ebeneezer Scrooge, decided that over $6.5 million in bonuses were being cut for 2008. They did not stop there, however, announcing that they would be firing over 200 employees right before the holidays.

On Friday, employees will begin to be notified that their childrens' Chirstmas would become a product of the slow economy. Employees who have been with the company for years will be told they no longer have jobs.

"To do this right before the holidays shows just how desperate Las Vegas Sands has become. They have now tipped their hand on just how much danger they are in, and it will hurt them dearly with their investors," said financial analyst Thomas Drowley.

Sands was quick to try and diffuse the situation through the media, trying to ensure customers that their casinos are still up and running. "It won't impact the customer experience at our properties," said spokesman Ron Reese.

What it will impact is the families of 216 workers. Many of these workers have already spent money for the holidays, and now they will be struggling to pay their bills.

December 12, 2008
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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