Does this mean there will be no immediate need for more layoffs? Or am I just deluding myself?
"International Game Technology PLC Announces Agreement To Sell Italian B2C Gaming Business For €950 Million In Cash"
https://www.prnewswire.com/news-releases/international-game-technology-plc-announces-agreement-to-sell-italian-b2c-gaming-business-for-950-million-in-cash-301186972.html
I would loved to know who the heck voted in this bored of directors at iGT? They basically burned the company from the day that they bought it. Right from the start they made layoffs. Starting with the warehouse and parts depot. I don’t mean to sound rude, but the Italian people who took over the company ruined it.
Did IGT do any more December layoffs?
It seems all the gaming manufacturers are having problems. I haven't seen anything on Scientific Games but I'm sure they're in bad shape .
Sorry, your question is either delusional or very naive. Companies unloading a profitable and strong position always do so when cash starved and need short term help, and give up long term growth. In this case here it is a very bad sign, esp. long term, if there is any.
They don't do it to preclude layoffs or other cuts, regardless what dribble they tell you. As another post said here, they also do want to keep exec assets coming. In the end you lose. Seen it many times in over 40 years at many co's. Get your resume going and get out if you can.
Asset stripping. Doesn't look good.
It means they are dumping as much of the business they can so the executives can cash out before bankrupting the company. IGT is finished.