About 90% of Caesars Entertainment’s workforce in the United States has been furloughed due to the coronavirus pandemic and the economic slowdown caused by it.
In a news release Thursday, the company said it will operate at the “minimum workforce needed to maintain basic operations.”
Furloughed individuals will remain employees of the company and those with health care benefits will have their coverage through June 30.
Caesars properties around the globe — including nine in Las Vegas — have been temporarily closed due to government- or tribe-mandated directives.
As of last year, Caesars had more than 60,000 employees around the world.
“We are taking difficult but necessary steps to protect the company’s financial position and its ability to recover when circumstances allow us to reopen and begin welcoming our guests and employees back to our properties,” said Caesars CEO Tony Rodio in a statement. “The company entered this crisis with strong operating performance, which, combined with the steps we are taking now, are critical to the future of the company.”
Per a directive from Nevada Gov. Steve Sisolak, Caesars closed its Nevada casino resorts on March 17. Nevada casinos will remain closed at least until May 1.
Caesars officials said last month that the company would be able to fund its obligations during the shutdown with $2.8 billion in liquid assets it has on hand.