But D Taylor, president of UNITE HERE, the Culinary’s parent union, was not impressed with what the Nevada Current called MGM’s “financial engineering.” Taylor noted “we will not stand by silently if the benefits of casinos and casino jobs are imperiled by the financial engineering of hedge funds and other Wall Street firms trying to extract value by cutting service levels, slashing wages and benefits, and reducing capital reinvestment.” MGM under Murren had a good relationship with the powerful Las Vegas Culinary Union. While Wall Street might have cheered the layoffs, workers did not. Implementing it as part the company’s so-called “MGM 2020” plan, the company reportedly fired a thousand employees to make the company’s financials more attractive to activist investors. Last year MGM also announced plans to move to an “asset-light” strategy. (Photo by Ethan Miller/Getty Images) Getty Images On October 1, 2017, Stephen Paddock opened fire from the 32nd floor of Mandalay Bay on the Route 91 Harvest country music festival killing 58 people and injuring more than 800 in the deadliest mass shooting event in U.S. #VEGASSTRONGER message as a tribute to those killed in last year's massacre across the street from the property on Octoin Las Vegas, Nevada. LAS VEGAS, NEVADA - OCTOBER 01: The marquee at Mandalay Bay Resort and Casino displays a.
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