Thread regarding Scientific Games Corp. layoffs

Next Round Coming?

It looks like about a month until the next quarter's earnings are announced. Plans are likely formulating for the next round of layoffs. Anyone heard anything?

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71 replies (most recent on top)

An Indian director at Reno is replacing 4 US guys with Indian guys ..

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Good story on H-1b abuse on 60 Minutes tonight. The producers should have talked to WMS/bally employees. Our company is one of the worst abusers of h1-b in the country. I've heard sandoval has been told about what's going on here.

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Didn't see any indication of future RIF from town hall. It seems company's fiance has been improved a bit.

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No need to be nervous...

Hope you are right. But it's cheaper to get rid of a half a dozen workers than to buy out one management contract. This way they also save on a half dozen benefit packages versus one. I don't know if my 6 to 1 ratio is correct, better ask management...

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No need to be nervous. It's almost for sure CEO will replace some upper management soon. Working bees just keep your good work.

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“If you are still working for this company after all downloadbesttorrentblog.rus, count your lucky stars and be prepared to lose your job in one of the many upcoming RIFs” It’s tough reality. Maybe new CEO can let us see some light at the of the tunnel.

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Nepotism destroyed this company’s culture long time ago. It’s even worse in scientific games. So many ppl are hanging around and underperformance is killing the company. Upper management should take the blame. A dramatic change is unlikely to happen very soon. But at least CEO can replace some upper management.

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the problem of this company (especially coming from bally) is the company culture. i have never worked in a "Tech" company that hires so many of their personal friends and families! its a joke, they have few ppl actually do the work and rest are just hang around because they are untouchable. The problem of the company isnt the top or bottom, its the middle management who keep the reality from CEO. And the bottom workers rarely feel appreciated or rewarded as they should.

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"New COO has a history of only lasting 2-3 years at a company"

Does SGMS still have 2 years given big loss every quarter? The company is bleeding every single day!

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No doubt, stock price is a purely game. It has been played many times. They still love this game until the last moment.

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Have you guys watched the stock price (one year up from $8.51 to $20.00). Even with anemic revenue and an unholy amount of debt, the stock still has enough gains now and then for some investors to make a few bucks. I'm sure there will another announcement soon about a plan to reduce expenses so there will be another uptick in the stock price and some profits for short term investors. They will play this game until they fail to make a payment on their debt and file chapter 11. But by then the rats will have deserted the executive offices clutching their stock options and golden parachute paperwork in their little paws. Seen it many times before.

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How much is SGMS worth now? $1B or $2B??? Only interactive and printed tickets business have some value. Selling assets isn’t a feasible option. IGT might buy SGMS with massive debt then their biggest competitor is killed. Huh, not bad at all...

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Only layoffs and selling assets can't save SGMS. The company need a dramatic turnaround.

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Time isn’t on the CEO/COO side. If they want to take any action they should be quick. SGMS is at the edge of collapse...

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Watch out. New COO has a history of only lasting 2-3 years at a company. She specializes in layoffs, bk and selling assets.

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A gigantic challenge for CEO is to get rid of nepotism. It has destroyed company’s culture for years. Upper management from EVP/SVP to director have their own nepotism. SGMS never had a reward and recognition system that is based on performance. To have a turnaround some upper management must be removed. They have built their nepotism for years, which has resulted in so many incompetent managers. But it’s a nasty job to get rid of those leeches.

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Well said. And I don't think that the new CEO and COO have any choice but to make a big change. They ultimately have to answer to the shareholders and probably do not want to see their tenure cut short for lack of performance.

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About a year ago SGMS hired a consulting firm to conduct a companywide survey. Employees were asked to answer a lot of questions related to company’s strategy, management, career progression etc. The actual survey result was ugly and HR only released partial result. No any action was taken after the survey. This indicated that upper management has no confidence to make any changes. Change will be extremely painful for them and their close friends/buddies… Hopefully, the new CEO and COO have tremendous courage to make a BIG change. It will be painful but it is the only chance that SGMS can survive.

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Let's hope the new COO does as well too. I hear good things about her. Perhaps her position as well as the recently appointed CEO will turn this ship around.

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New CEO is a person with amazing determination. No doubt, he is different. Get the right people at the right position is his number one task. However, time is the enemy. SG’s inefficient or ugly management has been there for years due to incompetent managers from upper to lower level. Good managers are too few. There is also a brain drain for years. It’s harder to recruit top-tier employees . Given all these tough situations it’s a huge challenge for new CEO/COO. They can only see the tip of the iceberg… Let’s see what will happen next…We all need good luck.

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Sadly the new CEO/COO will work from of a list of us rank and file folks. No contracts to buy out and getting rid of scores of us saves them a lot more in insurance benefits in the long run than a handful of management level employees.

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New CEO/COO really need a list of those incompetent managers! Send them one!!!

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SGMS VP/Directors......please stop giving your nonsensical input on this page.... You are the problem and the joke of the company....ALL OF YOU (well almost). Don't EVEN talk down to the engineers/employees that made this company what it is (and what made it worth going into debt to buy)...

You are laughed at and the fact you are watching/posting on this site proves as such......In fact I bet you're posting here on company time.....God I'd love to name names but,,,,,I won't. You know who you are.

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If those incompetent managers are not replaced/removed there is no hope for SGMS.

It's funny how everyone always blames the managers and VP's. If those doing the constant complaining ever were able to obtain that position in their career perhaps they would see things differently. And they would certainly see the challenge in directing malcontents. Don't forget that if you are forced to move on, one thing about gaming is that it's a very small community and you may just end up interviewing with one of your former managers or VP's that met the same fate as you did. I'm sure they would opt to hire to ones that gave there all until the very end.

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If those incompetent managers are not replaced/removed there is no hope for SGMS.

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Not a Director or a VP but someone with enough SGMS exposure, common sense and self-motivation to realize we are are fighting an up hill battle that will be more challenging if we continue to resist change and point the finger.

The last few years has s---ed to say the least with the decreased benefits and reduction in staff. Communication is lacking, plans are ever changing and quality to our customers is subpar.

We can dwell on the these negative aspects or help position this company lead and innovate in our industry.

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"If you plan on staying on as part of the SGMS team, perform at your highiest level, do more than expected and bring a positive attitude to work. You will be in higher demand regardless of your employer"

This sounds like from one of SGMS incompetent VPs/directors. They are always positive no matter their performance good or bad because they are paid very well. You bet!

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"If you have already parted ways with SGMS/WMS/BALLY, focus on your next career and get off these posts.

If you have one foot out the door, not performing at your best or hold on to enormous resentment on how things turned out, quit and move on.

If you plan on staying on as part of the SGMS team, perform at your highiest level, do more than expected and bring a positive attitude to work. You will be in higher demand regardless of your employer."

It sounds great. Everyone likes this attitude! Unfortunately, it is most likely a false positive attitude if truth is not allowed to be heard... Is it called "political correctness" ?

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If you have already parted ways with SGMS/WMS/BALLY, focus on your next career and get off these posts.

If you have one foot out the door, not performing at your best or hold on to enormous resentment on how things turned out, quit and move on.

If you plan on staying on as part of the SGMS team, perform at your highiest level, do more than expected and bring a positive attitude to work. You will be in higher demand regardless of your employer.

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It seems that some 20% RIF was expected when the merger was planned. However, the revenue after the merger did not meet expectation.

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That article is from 2014

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I don't understand why you posted this article? It's old news from the purchase of Bally.Whats your point?

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From LAS VEGAS REVIEW-JOURNAL. Let's see what happened...

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The $5.1 billion buyout of slot machine giant Bally Technologies by lottery provider Scientific Games Corp. could lead to a 21 percent reduction in the combined companies’ nonmanufacturing and production workforce.

The number of jobs eliminated would provide a cost savings of $83 million — 57 percent of the anticipated $144 million in reductions expected in the merger’s first year.

The information is part of a presentation officials from Scientific Games and Bally made to prospective lenders being sought to fund the transaction. The document was filed with the Securities and Exchange Commission in early September.

New York-based Scientific Games is paying $83.30 per share to acquire all outstanding shares of Las Vegas-based Bally — valued at $3.3 billion. Scientific Games would also assume Bally’s $1.8 billion in debt.

According to a subsequent SEC filing, Scientific Games raised $2 billion based on the presentation, roughly 40 percent of the money needed to complete the transaction. The company intends to seek an additional $3 billion in financing.

Three banks overseeing the deal — Bank of America-Merrill Lynch, Deutsche Bank Securities and J.P. Morgan — committed to provide financing as a backup plan when the buyout was announced in July.

Scientific Games officials declined to comment on the presentation, citing an SEC-mandated quiet period.

The companies hope to complete the merger by year’s end.

Scientific Games employs just under 5,000 workers. In 2013, the company more than doubled in size when it acquired slot machine maker WMS Industries for $1.5 billion.

Bally has nearly 4,000 employees. The company added several new divisions last year when it bought table game provider and gaming equipment manufacturer SHFL entertainment for $1.3 billion.

The cutbacks are expected to come from “redundant back office functions” according to the presentation, including accounting, finance, marketing, executive ranks, investor relations and sales. The job losses are not expected to affect manufacturing and production.

Scientific Games was primarily in the lottery business. The Bally’s acquisition means ownership of two of the top three slot machine manufacturers — Bally and WMS — will be consolidated.

According to the presentation, other cost savings are expected from eliminated “duplicative expenses,” such as professional fees, facilities and public company costs. Those cuts will account for 36 percent of the synergies, or $51 million in the first year. The combined companies’ purchasing power and lower operating costs are expected to cover the remaining 7 percent, or $10 million.

Scientific Games expects to report $220 million in synergies through the merger with Bally in three years, with 87 percent of savings in the first year.

Combined, the companies would have produced more than $3 billion in revenue and $1.3 billion in cash flow over the 12 months ended June 30.

After the Scientific Games deal closes, Bally will operate as a subsidiary of the lottery company.

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“SG's biggest money maker was and is printed tickets - that is still going but is also in decline. If you are still working for this company after all downloadbesttorrentblog.rus, count your lucky stars and be prepared to lose your job in one of the many upcoming RIFs”

The margin of printed tickets is very low. Unfortunately, the market is shrinking. SG’s life is counting down given the problems accumulated so long time. There is no opportunity anymore for talented employees. The company’s culture has already corrupted. The upper management knew it. But they also knew they can’t change it. Bad or good they get paid. As long as they and their buddies get paychecks they will be happy. How to make SG great again or how to even make SG survive? This is too big challenge. So sad, the company literally is in this worst shape ever. Those upper management should feel shame. But they are shameless!!!!

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"I spoke to a field mgr today who told me that he is being called to a meeting tomorrow with his mgr and HR........another cut coming tomorrow?"

That's likely irrelevant. We are already short of working bees... Last Town Hall new CEO gave some clue that he will replace/cut upper management. Let's see what will happen in March. Get the right people is the only chance SG can survive. Clock is ticking...

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I spoke to a field mgr today who told me that he is being called to a meeting tomorrow with his mgr and HR........another cut coming tomorrow?

I was cut in Alpharetta in the early nov round. Have since landed a better paying, more fun job.

Good luck to those left a SG

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"Organization transformation", I like that one. I was just getting used to "synergy". Kind of like "strategic default" when you don't want to pay your mortgage anymore. How about getting real and just say "come on over guy's, the axe is nice and sharp and I have to hurry this up because I have an early tee off time". Sad times indeed...

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If there is next round RIF it should happen before next Town Hall in Atlanta. At least next round of reorganization is under planning. The new COO has a lot of experience in organization transformation.

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"At this point SG should be sold or file chapter 11. Are there any other options left?"

Who wants to be the s---er to buy SG with massive debt? No way!!!!! The company has no much value left!!!

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At this point SG should be sold or file chapter 11. Are there any other options left? Maybe new CEO and COO have magics.

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