Harrah’s Cuts 100 Jobs to Pare Costs at Resort

Harrah’s Entertainment Inc. will lay off about 100 of the 5,000 workers at its Rio resort to cut costs at the casino, which put a drag on second-quarter earnings. The Las Vegas-based casino operator also is reducing operating hours at four of Rio’s 15 restaurants to a five-day schedule from seven days, said Harrah’s spokesman Gary Thompson. A fifth restaurant, the Chinese eatery Mein, has been closed altogether, he said. Nearly all the cuts, to be made over the next week, will affect restaurant workers and table dealers. The decision comes two weeks after Harrah’s cited poor results at the Rio for second-quarter profit that fell below Wall Street expectations. Harrah’s closed up 13 cents at $25.25 on the NYSE.