Head of Scientific Games Offers to Take a 100% Pay Cut
This is an unprecedented time for people in all industries. It’s true, the current outbreak has impacted all people globally, and businesses are facing huge implications. Companies are losing out financially and will need to make cuts where necessary to overcome and thrive. But it’s worth knowing that the iGaming sector is also facing some serious challenges. But Scientific Games is ready to tackle them. As such, the CEO, Barry Cottle, has stated that they are working “around the clock” to make sure that they look after employees, customers, shareholders and stakeholders as best they can. Meanwhile, they will be delivering the best products and services. Scientific Games entered the year in a strong financial position. And so they have plenty of assets, products, and services to help them weather the storm.
Facing Hard Times Head On
One area that Scientific Games will be looking at is making sure that they face all challenges. And they’ll be ready to go when everything starts to recover. Cottle is confident that all the moves they make now will see them emerge stronger than ever. He is leading a solid team that is pulling together to help each other and the company. Part of this strategy is implementing cost-cutting measures to make sure the team is safe, and operations continue as before. Measures the company takes include will include reductions in both pay and hours so that they can keep as many people on as possible. They will also furlough supporting roles. But, the people at the top will also be making sacrifices. In fact, the Executive Leadership team has volunteered for a 50% pay cut. Meanwhile, Cottle himself has offered to take a 100% pay cut.
Unfortunately, the situation won’t be ideal for many. Furloughed staff may face financial troubles. To help in these difficult times, Scientific Games has set up a Hardship Fund to help employees and family members. The company leaders will contribute to the fund. Scientific Games is committed to making sure that it’s business as usual. And hopefully, they and their staff will come out better than ever.