IGT Confirms Workforce Cuts Under Strategic Reset

Key Points

• IGT will cut nearly 700 workers, close to 10 percent of the global workforce, aiming to adjust operations with strategic plans.
• This move comes after a review led by CEO Hector Fernandez following the 6.3 billion dollar Everi deal under Apollo Global Management.
• The company now centres its focus on five areas: culture, capabilities, content, commercialisation, and cash-flow for long-term direction.

International Game Technology IGT confirms plan to remove nearly 700 employees across global teams, showing a shift that brings concern across workforce lines. This reduction equals nearly 10 per cent of the total staff and aims to align resources with the business direction over a longer horizon. The decision follows an internal review that tries to improve structure, raise efficiency, and place the company for growth in the gaming sector.

Leadership Review and Direction Change

Chief Executive Officer Hector Fernandez shared this update through a letter sent on March 23, explaining the reasons behind the staff reduction decision. He clarified that layoffs do not link to worker performance but come from structural needs to match company goals. Fernandez took the CEO role in December 2025 after leading Aristocrat Gaming and had promised a full review of the company’s operations. That review checked operational focus, internal structure, and how the company aligns with future plans across segments. The process led to decisions he described as hard but required to reduce overlap and allow faster execution within company units.

Layoffs come as IGT continues integration after the July 2025 deal where Apollo Global Management acquired the Gaming and Digital division with Everi Holdings. This deal worth 6.3 billion dollars formed a private enterprise under the IGT name, combining gaming, digital, and financial technology units. The new structure now operates across three units, Gaming, Digital, and Fintech, bringing mixed reactions from within the organisation. Integration aims to use strengths from both sides, improve efficiency, and support development across land-based and digital gaming areas.

Focus Areas for Future Path

As part of the reset, IGT defined five focus areas called the five Cs, covering culture, capabilities, content, commercialisation, and cash-flow. These priorities guide the next growth phase and help the company act on opportunities within gaming markets. Restructuring aims to help the company operate with clearer direction, faster response, and stronger position with partners in regulated markets.IGT confirmed that affected staff will receive severance, support for job transition, and access to resources during this phase. The company also said it will check options for redeployment inside the organisation where possible, easing some level of worry. Details on where layoffs will happen across regions or units remain unclear, and cost savings from the plan are not yet known.

Fernandez accepted the emotional impact on employees and noted that remaining staff may feel uncertainty during this transition period. He stressed the need to support colleagues and stay focused on company priorities as the change process continues. Workforce reduction shows a wider shift across gaming and iGaming sectors where companies push for efficiency and integration. IGT restructuring stands as a step to adjust to industry changes and aim for a stronger position with long-term value delivery.