Published Tuesday, June 15, 2010 | 3:55 p.m.
Updated Tuesday, June 15, 2010 | 4:53 p.m.
The company cut 220 hourly employees and 41 full-time employees. Wynn Resorts Chairman and Chief Executive Steve Wynn said the layoffs account for less than 3 percent of the company's workforce.
Wynn said the cuts will allow 3,700 employees in Las Vegas to return to their full wages. Of those 3,700 employees, about 2,300 are hourly and will return to 40-hour work weeks, while the other 1,400 employees are salaried.
Employees who earn less than $200,000 a year will return to their pay before the cut, Wynn said. Employees who earn more than $200,000, including Wynn, will keep their reduced salaries.
In February 2009, Wynn announced he was cutting pay by 15 percent for salaried employees making $150,000 or more and 10 percent for those making less. The company reduced work weeks to 32 hours for full-time, hourly employees to avoid layoffs.
Wynn said operating in that manner was no longer acceptable.
"What was appropriate as a temporary decision for three months doesn’t work for a year and a half," Wynn said Tuesday. "Instead of employees being thankful, it starts to operate against you. Employees are full of angst because they are working on reduced wages."
Wynn said he began to consider the change about 2 1/2 months ago when he received a letter from an engineering department employee who said he wasn't able to pay his bills and was in danger of losing his house because of the reduced hours.
After hearing that the reduced hours and pay were becoming a problem for others, Wynn had his executives look for any overstaffing to see what positions could be cut.
“I told my guys that I don’t want to do this with any fat in the payroll," Wynn said. "How many people are we carrying that we shouldn’t have?”
Even with the layoffs, Wynn said the changes will increase payroll costs by $7.7 million. Without the layoffs, Wynn said it would have cost $10 million to bring everyone back to full-time hours and increased pay.
“If I get the morale back, that’s more important than the money,” Wynn said.
The February 2009 cutbacks included eliminating bonuses and 401K matches, and instituting a hiring freeze for empty positions — all of which are still in effect, Wynn said. Between 800 and 900 positions haven't been filled because of the hiring freeze, Wynn said.
Encore is nearly a mirror image of the Wynn Las Vegas, from the brown glass exterior to the style and placement of the logo — and it's just as luxurious as the original. Some call Encore the younger, hipper sister of Wynn.
Located steps from Wynn Las Vegas, yet under the same roof, Encore's fanciful and intimate atmosphere is unlike anything anywhere, with an environment that is uniquely Wynn and distinctly Encore.
Steve Wynn spared no detail in his newest property when designing Encore. The casino floor is decorated in rich reds, browns and purples with mosaic butterflies embedded into the marble floors and fresh flowers greeting guests in the casino atrium.
Luxury doesn't end of the casino floor. Encore boasts 2,034 impeccable guest rooms and suites. The standard suites resort accommodations are 700 square feet with the larger suites measuring in at 5,800 square feet. Standard suites guest rooms feature plasma screen TVs, high-end bath products, spectacular views of the Strip, and also plush linens and mattresses, which can be purchased in the Encore store, in case you can't get enough.
Dining options include Chef Theo Schoenegger's fine Italian cuisine at Chef Theo Schoenegger's, Sinatra's and the pan-Asian café creations of Chef Jet Tila at Wazuzu.
Guests can also dine on steaks and chops at star Botero Steak. At Switch, Encore's French restaurant, the walls come to life mid-meal and your surroundings appear to change before your eyes. For decadent, hip Asian dining before or after a night at one of resort’s ultra-chic nightclubs, visit Andrea’s, the newest dining experience at Encore.
XS headlines Encore's nightlife and pool party scene while Danny Gans takes care of humor and entertainment. Encore also features two of the most celebrated nightlife experiences in Vegas, XS Nightclub and Surrender. Both feature main room dance floors that flow outside to pools, patio spaces and gaming areas.
When the temperature rises, don’t miss Encore Beach Club, the premier daylife destination that features three tiered pools and luxurious cabanas and bungalows with private infinity pools.
Encore Esplanade features 11 high-end retail stores, with brands like Hermes, Chanel, Loro Piana and Rock, and Republic Piaget luxury watches. The resort also has a Forbes Five-Star spa, a salon and an 18-hole, on-site golf course, which is adjacent to the Wynn.
With world-class dining, shopping, spas, golf and entertainment, there's no shortage of things to do at Wynn. The resort’s aquatic acrobatic show, “Le Reve—The Dream,” a creation by Cirque Du Soleil veteran Franco Dragone and Steve Wynn, will leave guests wanting more with its breathtaking performances that conjure an imaginary world. The Wynn Esplanade offers a unique shopping experience with stores including Chanel, Manolo Blahnik, Christian Dior, Oscar de la Renta and many more. Tryst is its signature nightclub, offering a secluded lagoon inside the club and spacious dance floor. Blush, the Wynn’s ultra lounge, draws swanky party-goers. Tryst, Wynn’s signature nightclub, is situated along a private lagoon under a 90-foot waterfall and plays host to some of the world’s most renown DJs.