MGM Resorts International announced MGM 2020 in January. The business-optimization initiative would improve cash flow by $200 million annually by the end of 2020. 1,070 jobs were cut as part of the cost-cutting initiative. 881 of those were Las Vegas employees, mostly in management or mid-management positions. According to MGM, the initiative is meant to strengthen the company for the long-term by making MGM more nimble and able to embrace innovative ideas. The goal is to reduce costs, improve efficiencies and position the company for growth. Jim Murren The next phase of MGM 2020 will focus on a digital transformation, using new innovative technologies to target, attract and retain new customers. The new technology will focus on elevating the guest experience through data, pricing, digital and loyalty capabilities, MGM said. The company expects to improve cash flow by $100 million by the end of 2021 through the digital transformation.
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