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Wynn Resorts Slashes Worker Pay

Wynn Resorts Ltd. said it plans to save up to $100 million annually by cutting pay of all salaried workers in Las Vegas, eliminating retirement account contributions and bonuses for 2009, and reducing hours for hourly employees

Chief executive officer Steve Wynn said on Tuesday that the changes would affect employees of the Wynn Las Vegas and Encore casino-resorts on the Las Vegas Strip. Wynn says the goal of the cost reductions is to run the casinos more efficiently and protect the jobs of its employees.

The Las Vegas-based company opened the 2,034-room, $2.3 billion Encore in December. Wynn says the cuts in Las Vegas do not affect the company’s Macau casino in China.

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