IGT slashes 700 jobs in global restructuring under new CEO

A bold but painful move: IGT's new leader reshapes the gambling giant. Will fewer employees mean sharper focus—or deeper uncertainty?

, and Administrator

2026 March 26 . 7:14 PM

1 min read

The image shows a blue and white logo with the words "Gamblers vs 28" written on it, along with a few playing cards and a stick. The logo is likely associated with a gambling game, suggesting that the image is meant to represent the differences between the two sides of the game.

IGT slashes 700 jobs in global restructuring under new CEO

International Game Technology (IGT) has announced plans to cut 10% of its global workforce. The move will affect around 700 employees across its offices in London, Las Vegas, Rome, and other locations. New CEO Hector Fernandez revealed the decision on Monday as part of a major reorganisation. IGT has been a leader in the gambling industry since the 1970s. The company now operates under three main divisions: Gaming, FinTech, and Digital. This restructuring follows Apollo Global Management's $6.3 billion acquisition of IGT's gaming business and Everi Holdings in July.

Fernandez, who took over as CEO in December, previously led Aristocrat Gaming. He described the layoffs as a difficult but necessary step to streamline operations and remove duplication. The cuts are not linked to employee performance. The company aims to position itself for future growth in a rapidly changing industry. Management believes a leaner structure will help IGT compete with greater focus and discipline.

The layoffs mark a significant shift for IGT as it adjusts to new ownership and market demands. Around 700 jobs will be lost, but the company expects the changes to strengthen its long-term position. The reorganisation will reshape its Gaming, FinTech, and Digital divisions moving forward.