VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
Issue link: https://www.ifoldsflip.com/i/190809
In business jobs Citibank to lay off about 700 workers during holiday season By Richard N. Velotta senior staff writer Citibank's mortgage division at the Lakes will close this year, throwing more than 700 people out of work just before the Christmas holidays. The closure is part of a nationwide reduction strategy involving 1,000 layoffs by New York-based Citibank, but most of the affected employees are based in Las Vegas. "In response to decreased demand for mortgage originations and refinancing, CitiMortgage is eliminating some positions in sales, fulfillment, underwriting and mortgage default functions predominantly at Citi sites in Las Vegas and Irving, Texas," Mark Rodgers, director of Citi public affairs, said in a statement. "Most of the impacted Irving employees will be reassigned to other work at the site, resulting in an overall net reduction of approximately 1,000 jobs through these actions. While difficult, gr wth. these actions reflect our ongoing efforts to increase operational efficiency, adapt to changes in the marketplace and position the business for the future. "Citi will help impacted employees identify opportunities both inside and outside of the company. Impacted employees will be eligible for Citi severance benefits and transition support." Rodgers said home mortgage refinancings have slowed nationwide, leading to the decision to shutter the Las Vegas division and lay off 760 Las Vegas workers. An employee at the center who asked not to be named said employees were notified at a company meeting Sept. 23. He said some divisions would shut down in late November, with most of the layoffs occurring Dec. 20. Some employees have speculated that Citi, whose mortgage division they say has been unprofitable, may exit that business. Severance packages will be based on time of service to the company plus an additional two months of paid benefits. A Citibank call center handling consumer inquiries and processing customer requests employing about 350 people at the Lakes won't be affected by the mortgage division closure. the strip Zip line to launch riders high from Rio's VooDoo Lounge Meet the power company that puts Nevadans first. We're Valley Electric Association, the utility company that's for Nevadans, by Nevadans. As a nonprofit, member-owned co-op, we're using our unique position to help strengthen our economy by securing renewable energy projects and putting people in our state to work. The result is more business activity across a broad spectrum of industries, all across the state. It's how renewable energy turns into a more sustainable economy. Together, we're doing powerful things. I LEARN MORE AT V EA .COOP I 10 20131014_VI08_F.indd 10 By Ed Komenda staff writer The Rio's VooDoo Zip Line will open in early November. Resort officials announced the ride will be open to the public from noon to midnight daily, but a solid opening date has not been set. Riders must be 21 or older to ride the zip line after 8:30 p.m. From noon to 5:30 p.m., the ride costs $24.99 per person and from 5:30 p.m. to midnight it is $37. Service fees are attached to both packages. About 400 feet off the ground, the twoseat zip ride launches at the VooDoo Lounge, atop the Rio's 50-story Masquerade tower. Riders zip 800 feet at 33 mph before coming to a short rest at the Rio's Ipamena Tower, where riders are then launched backward, toward where they began. A reservation system is planned to reduce wait times. Riders will be notified via a cell-phone alert when it's their turn. | 14 October 2013 | 10/10/13 2:29:59 PM