IGT cuts about 700 jobs in post-merger restructuring
Table of contents
- IGT is eliminating about 700 positions globally, representing about 10% of its total workforce.
- CEO Hector Fernandez described the cuts as structural, not performance-related, following a months-long business review.
- The layoffs come after Apollo’s $6.3 billion all-cash acquisition of IGT’s Gaming & Digital business and Everi into a combined entity.
International Game Technology is cutting about 700 jobs worldwide as part of a restructuring effort tied to its post-acquisition integration, CEO Hector Fernandez confirmed in an internal memo sent to staff on Monday (March 23).
The reductions, first reported by the Las Vegas Review-Journal, affect about 10% of the company’s total global workforce. IGT has not disclosed the geographic breakdown of the cuts.
Post-merger alignment
IGT was formed through Apollo’s $6.3 billion all-cash acquisition of IGT’s Gaming & Digital business and Everi Holdings into a combined entity. The transaction closed in early July 2025.
Fernandez, who became CEO in December 2025 following a non-compete period tied to his previous role at Aristocrat Gaming, framed the cuts as the product of a thorough post-acquisition assessment.
In a letter to employees, he wrote that the changes were required to align resources with business priorities and streamline operations, ensuring the company is best positioned for future growth, per reports.
The CEO said management had kept a commitment made at the company’s first all-staff meeting under his leadership:
“When we met in December for our first companywide town hall since I started as incoming CEO, I said we would move quickly to evaluate our business and make decisions to strengthen it. Over the past several months, we have kept that commitment. We examined where we focus, how we operate, and how our structure supports our strategy.”
Structural, not performance-driven
Fernandez was clear that the reductions do not reflect individual performance. In the memo, he wrote that the decision reflects the structural alignment required to operate as one company, leverage combined strengths, and compete with focus and discipline in a changing industry.
He outlined the broader rationale directly:
“As part of that review, we also had to make some difficult decisions about how our organisation is structured, and this work has led to a difficult but necessary step.”
On the progress made ahead of the announcement, he added:
“In recent months, we have completed much of the foundational work needed for a stronger, more competitive organisation. The changes we are announcing today are part of that effort to simplify our structure, reduce duplication, and enable us to move with greater clarity and speed.”
Affected employees will receive financial and career support. Fernandez wrote in the memo, per reports:
“For those leaving IGT as part of this action, we are committed to providing severance, outplacement support and transition resources.”
He also acknowledged the emotional weight of the announcement for remaining staff, noting that feelings of uncertainty and concern are natural, before shifting focus to the path ahead:
“What matters now is how we move forward together: supporting one another, focusing on our priorities and continuing the work that will define the next chapter of our company.”
What comes next
IGT has not disclosed how many of the layoffs affect workers in Nevada and Las Vegas, the company’s new corporate headquarters.
The restructuring positions IGT — which spans gaming machines, digital products, and FinTech — to compete more directly against rivals such as Light & Wonder and Aristocrat as an integrated, privately held platform.
Fernandez closed his letter with a note on continuity, saying the leaner business “will continue to drive innovation, execute our strategic priorities, and deliver the high-quality service our customers expect.”
The cuts mark one of the more significant workforce reductions in the gaming supplier space in recent memory. Last week, Lottomatica cut 348 jobs in Belgrade post-SKS365 merger.
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About the author
Bianca Máthe
Bianca Mathe joined the iGaming industry in 2018 and has since built extensive experience across multiple verticals, working with international gaming organizations on editorial, marketing, and media strategy. She brings a strong understanding of the regulatory, commercial, and technological forces shaping the global iGaming sector.
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