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Casino Layoffs Include Accomplished Female CEO
MANSHANTUCKET, CONNECTICUT --
As turmoil besets the economy across the United States, executives are finding their lucrative careers may be jeopardized by unexpected poor performance of their businesses. One such CEO, Patricia Irvin of Foxwoods Resort Casino, found herself among seven hundred layoffs by the tribal casino.
Irvin carried an impressive resume, including graduation from Harvard Law School and a position as Deputy Assistant Secretary of Defense in Bill Clinton's administration.
But in the casino industry, the bottom line is the only result that matters, and Foxwoods is going through the first tough times in its existence.
Due to slowing revenues, Foxwoods is attempting to cut costs through salary reductions. The CEO job Irvin had will no longer exist, with the duties folded into those of the Foxwoods president and the general manager of the Foxwoods MGM Grand facility.
Irvin was hired in December 2007. She was unable to reverse a decline in slots play over the last three years.
Michael Thomas, chairman of the tribal council, stated the move was difficult but made necessary by "the current economic environment."
By releasing Irvin, Foxwoods has removed one of the most powerful women in the casino industry.
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