The luxury property on the Las Vegas Strip laid off a number of employees this month, including some who had worked there for over a decade.
A luxury Strip resort has parted ways with several long-time and high-level employees, according to multiple sources.
The Venetian and Palazzo casinos laid off an unknown number of employees this month, some of whom had worked at the Strip resort for over a decade.
Among those known to be affected by the layoffs are executives and senior-level employees in multiple departments, including hotel operations, marketing, celebrations/banquets, group meetings and casino hosts.
An internal memo obtained by the Review-Journal confirms the staff reductions and references the need to “streamline” the property’s operations through “reducing leadership and management positions.”
The Venetian Las Vegas — which is operated by Apollo Global Management — said that “in total, less than 50 of our more than 8,500 team members were impacted.” A spokesperson for the property provided the following statement to the Review-Journal:
“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. This change was made with thoughtful consideration and guided by our core values, recognizing that transitions like these can be challenging.… We remain dedicated to supporting all affected Team Members and positioning our company for continued growth and success. This restructuring will allow us to operate more effectively, create new opportunities, and maintain our focus on providing extraordinary experiences for our guests and team.”
Patrick Nichols, the property president and chief executive officer, declined to comment Tuesday following an employee town hall that addressed the recent moves.
The impacted employees are reportedly receiving severance packages directly tied to their positions, seniority and years of service. Nondisclosure agreements prevent either party from disclosing the details of the severance packages, but at least one former employee described the payouts as “inadequate.”
The Venetian is undergoing a $1.5 billion upgrade, which the resort characterized as “the largest and most expensive hotel renovation in history,” when the project was announced. Aspects of the capital reinvestment project, such as the first phase of the newly renovated Venetian Expo Center, an updated high-limit room and the recently opened Poker Room, are already complete.
The Las Vegas Strip resort recently announced a “first-of-its-kind” partnership with Pechanga Resort Casino in Southern California. The deal, which allows loyalty card customers of either property to use and earn benefits at the other, is the first between a commercial gaming operator on the Strip and a tribal casino.
The Venetian and Palazzo hotels’ affiliation with InterContinental Hotels Group will end on Jan. 1.
