IGT slashes 700 jobs in major restructuring under new CEO

A bold new direction for IGT—but at what cost? After a blockbuster private equity deal, 700 jobs vanish in a bid to reshape the gambling tech giant.

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2026 March 25 . 1:02 PM

1 min read

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IGT slashes 700 jobs in major restructuring under new CEO

International Game Technology (IGT) is cutting 10% of its global workforce, affecting around 700 employees. The move comes as part of a wider reorganisation under new leadership. The company insists the job losses are not linked to performance but to a shift in long-term strategy. IGT's restructuring follows a major acquisition in July, when private equity firm Apollo Global Management purchased its gaming division and Everi Holdings for $6.3 billion. The deal marked one of the largest in the gambling supplier sector. Apollo plans to merge IGT's gaming operations with Everi's payment and casino technology, creating a unified business with Gaming, FinTech, and Digital divisions.

New CEO Hector Fernandez, who took charge in December after leading Aristocrat Gaming, announced the layoffs as a way to streamline operations and eliminate overlap. The decision came after a strategic review by senior executives, which began following a company-wide town hall in December. Fernandez described the cuts as necessary to position IGT for future growth in a rapidly evolving industry.

IGT has been a key player in gambling technology since the 1970s, pioneering video poker and introducing popular branded slots like Wheel of Fortune. However, it is not alone in downsizing—Games Global also reduced its workforce in October. No further details have emerged on Games Global's market position or partnerships since those layoffs. The job cuts will reduce IGT's workforce by roughly 700 people. The company aims to sharpen its focus and discipline as it adapts to industry changes. The restructuring reflects broader shifts in the gambling technology sector under new ownership and leadership.