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December 8, 2006

GTECH lays off 200 workers, 70 in R.I.

PROVIDENCE - Lottery giant GTECH Holdings Corp. today laid off 70 employees in Rhode Island, among 200 employees who are being laid off worldwide, the company said this morning.

The employees were given notice today that their jobs were eliminated immediately, said Robert Vincent, a spokesman for the company. They will receive severance pay, as well as 12 months of career counseling and outplacement services, he said.

The jobs affected by the layoffs run the gamut, Vincent said, from vice presidents to entry-level positions.

Most of the Rhode Island employees who lost their jobs worked at the company's West Greenwich facility. Some also worked in the company's new Providence headquarters, which GTECH moved into last month.

The layoffs are part of the company's efforts to pare down expenses as it gets ready to re-bid several major contracts over the next 24 months, Vincent said. The company faces new competition, he said, including "international competitors that are looking to gain market share by offering prices we could not sustain."

In August, GTECH was purchased by Lottomatica SpA, an Italian lottery operator, for $4.8 billion. Vincent said the layoffs were not related to the acquisition and would have occurred if GTECH had remained an independent company.

Posted by Tim Barmann  at 12:48 PM | Permalink

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anonymous | December 8, 2006 2:53 PM link

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