Whereas MGM and Harrah’s have used layoffs to reduce costs (and in MGM’s case, as a public company, its investors’ returns and its stock price, at least theoretically), they miss the point: They have victimized the now-former employees — and their families! — to make a buck, forgetting that it is the employees who deal the cards, maintain the casinos, greet the guests, serve the drinks, etc. that keep the customers happy. During good times, they’ll need those folks again, but the bitterness of being “expendable” will last, I bet!

Wynn, a billionaire and the man who re-made Vegas in the late 80s and again in 2005, has a reputation for being good to his people, recognizing the value they bring and the dignity they deserve. From the Yahoo! article:

“Wynn said he views layoffs as an absolute last option, and he’s willing to drop his room prices to keep people in the building and his employees working.”

And in his own words: “If I lay off employees, I cause a ripple effect of insecurity and fear that is much, much more difficult to overcome than is raising the price when business is good.”

Why don’t more executives and leaders get this? Employees are no less human than executives; they deserve respect!