Boyd Gaming is taking further steps to minimise the financial effects of the Covid-19 pandemic, which resulted in the mid-March closure of all the company’s assets.
Business executives of the gaming company will take “significant salary reductions.” All non-furloughed participants of their corporate and property management teams will receive a salary reduction, and their board of directors has decided to suspend their salaries.
In addition, most of its team members will go on on unpaid furlough, due to the ongoing closing of all revenue-generating operations. Only a small number of key team members will remain on payroll.
“This is by far the most difficult decision we have ever made,” said Keith Smith, president and CEO. “We care deeply about the well-being of our team members, which is why we maintained full pay and benefits through April 10. Implementing furloughs was a last resort for us, but a necessary step to protect our company, especially given the current lack of visibility regarding property re-openings.”
[image credit : LinkedIn]