HONG KONG: Macau's giant Venetian casino, owned by the troubled Las Vegas Sands, has axed 500 staff, the company said in a statement - the latest sign of the firm's struggles to deal with the global credit crunch.
The Venetian, a massive hotel and casino complex billed as the cornerstone of a new Las Vegas-style strip, has cut the work week for its casino workers, and laid off 500 staff.
"The company has adopted a series of measures to control operating costs in all business areas, including letting go approximately 500 employees across all levels who are not Macau residents," a Venetian spokesman said.
"(These include) about 100 management-grade expatriate employees in gaming operations," according to the statement, released late on Monday.
It said many of the workers would be offered alternative employment at the firm's new integrated resort in Singapore.
Last month, the United States-based firm said it was firing up to 11,000 mainly construction staff, as it halted work at a new 6,400-room resort close to the Venetian.
The firm said it was delaying the development until it could secure additional funds for the US$3.7-billion (S$5.3-billion) project.
