MGM Resorts International is laying off 18,000 previously furloughed employees as the coronavirus pandemic continues to eat into its casino and hotel businesses, according to a report published Friday.

The layoffs represent nearly a quarter of the corporation’s 70,000 employees, according to the CNBC business news network.

“Nothing pains me more than delivering news like this,” Bill Hornbuckle, the company’s chief executive officer, wrote in a separation letter to employees obtained by the news outlet.

“The heart of this company is our employees and the world-class service you provide. Please know that your leadership team is working around the clock to find ways to grow our business and welcome back more of our colleagues.”

MGM’s Park MGM in Las Vegas and Empire City in New York remain shuttered, and with global travel at a relative standstill due to the pandemic and health restrictions in place across much of the US, the company has been taking major financial hits since March.

Health benefits for employees will be extended through the end of September, CNBC reported the company as saying.

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