Thread regarding Scientific Games Corp. layoffs

Layoff in Chicago last week. I think they let the entire procurement group go. Anybody have more details or rumors?

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Well, I guess we won't make much progress on paying out debt down now that we are purchasing DEQ. The merge between Sci Games, Shuffle, WMS and Bally isn't finished yet and now we're buying another company, Unbelievable.

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It won't end until, at least, the hardware development activity has been relocated to LasVegas

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The answer to the question "when will this end", is that it will not end until a large portion of the $8B in debt is paid down. And that will be hard to do as a great deal of incoming cash is being to used to make interest payments on said debt. This "impeded" cash flow also zaps the company's ability to use revenue in key areas such as research and development, employee retention etc. The plan to merge several companies into one may have seemed like a win-win by ending up with a conglomerate that could be a one stop shop to the market, but perhaps they really didn't run the numbers first to discover they would be choked with debt.

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More people are getting let go slowly.

CEO was in a video message saying they are "fine tuning teams". When will this end?

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No more details, but I hear it's not the end. More layoffs coming soon.

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