MGM Could Replace Many Employees with Robots - could take over as many as 800 million jobs globally by 2030


MGM Could Replace Many Employees with Robots

Andrew O’Malley March 7, 2019

30-second summary

·        MGM is thinking about replacing workers with robot technology in its Las Vegas Strip properties
·        Its 2020 plan calls for reducing thr workforce by about 2,1000 people to save $300m in the coming years
·        Unions and workers will likely react strongly to such a move
·        A McKinsey and Company report estimates that by 2030, 800 million jobs will get robot replacements

Robots taking over employment

Many corporations are embracing the latest robotic technology. Companies can make many processes more cost- and time-efficient by using robots and other types of technology.

In a lot of industries, robots can now be more efficient and productive than people. This sparks the debate about protecting these jobs for humans or to allow robots to make these processes more efficient.

MGM, one of the major global casino companies, is considering replacing some workers with robots, which will cause some concern for their employees and those in the industry as a whole.

The company has been looking into doing this at their MGM properties on the Las Vegas Strip as a way of cutting costs considerably. It is likely that the casino worker unions in Nevada will soon be up in arms about this issue.

Among those who could be replaced are cashiers and bartenders. Automatic technology that can make drinks would replace the bartenders and monetary transactions could be done through standard payment technology.

There would also be mobile payment processors going around the floor with the wait staff, eliminating the need for cashiers. There is no indication as to how many such jobs would be replaced at the MGM properties.

Reaction to this potential move

The unions and workers will not be happy with this news. Jobs will be lost and it may also violate the labor agreement that MGM struck with the unions last summer.

The Las Vegas Culinary Union (LVCU), which represents bartenders, kitchen staff, and wait staff, reached a five-year deal in June 2018 with the MGM.

The agreement guarantees that MGM will not implement any technology that would have a negative impact on employment. However, the news that the MGM is considering replacing some workers with robots could mean that the company is not willing to fulfill this agreement.

For some time, the MGM has been looking at ways of trimming its considerable costs. CEO Jim Murren presented a new “MGM 2020” plan at the beginning of the year.

This plan calls for cutting the number of workers by about 2,100 people in 2010. He believes that such a move will see them save about $200m (£153m) in earnings before interest, tax, depreciation, and amortization (EBITDA) over the next couple of years and $100m (£76m) in following years.

The unions will be watching all developments closely, especially since they were made aware of this MGM 2020 plan.

A growing trend

With robot technology and artificial technology constantly becoming more and more advanced, more jobs will be lost to robots and automation.

A McKinsey and Company report estimates that robots could take over as many as 800 million jobs globally by 2030. This is especially the case in advanced economies, such as in the United States.

As a result, millions of people will have to learn new skill sets in order to adapt and find employment.

Not all industries will face the same struggles. Jobs involving social interaction, applying expertise, or managing people naturally will not be replaceable by robot technology. However, a lot of people in back-office work, accounting, and paralegal jobs will easily be replaceable thanks to automation.

Comments

  1. Thanks you for sharing this unique useful information content with us. Really awesome work. keep on blogging collaborative robot manufacturers

    ReplyDelete
  2. Are you interested in the service of a hacker to get into a phone, facebook account, snapchat, Instagram, yahoo, Whatsapp, get verified on any social network account, increase your followers by any amount, bank wire and bank transfer. Contact him on= ETHICALHACKERS009@GMAIL.COM

    OR WHATSAPP +1 213 295 1376

    ReplyDelete
  3. Bitcoin investment has changed my life because I invested my bitcoin with Mr Luis Carlos. He is a professional trader and he help me trade my bitcoin and he can also help you. My first investment with Luis Carlos, I profited up to $10,000 with my investment of $1,000 in 72 hours, Looking into this week as well, what have you planned to achieve? Why not take that step now and contact Luis Carlos on email: tradewithluiscarlos@gmail.com or WhatsApp : +16234044993 and surely he will help you change your portfolio status.

    ReplyDelete
  4. PLEASE READ!!!Hello Guys!!! I am Ruth I live in Ohio USA I’m 32 Years old, am so happy I got my blank ATM card from Adriano. My blank ATM card can withdraw $4,500 daily. I got it from Him last week and now I have withdrawn about $10,000 for free. The blank ATM withdraws money from any ATM machines and there is no name on it because it is blank just your PIN will be on it, it is not traceable and now I have money for business, shopping and enough money for me and my family to live on.I am really glad and happy i met Adriano because I met Five persons before him and they could not help me. But am happy now Adriano sent the card through DHL and I got it in two days. Get your own card from him right now, he is giving it out for small fee to help people even if it is illegal but it helps a lot and no one ever gets caught or traced. I’m happy and grateful to Adriano because he changed my story all of a sudden. The card works in all countries that is the good news Adriano's email address is adrianohackers01@gmail.com

    ReplyDelete
  5. GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735

    I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web hackers send them the atm blank card and use it to collect money in any atm machine and become rich. ( darkwebblankatmcard@gmail.com ) I email them also and they sent me the blank atm card. I have use it to get 90,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode. They also do Bitcoin mining

    Email: darkwebblankatmcard@gmail.com
    Text & Call or WhatsApp: +18033921735

    ReplyDelete
  6. I am sure a lot of us are still unaware of the recent development of the Blank ATM card.. An ATM card that can change your financial status within a few days. With this Blank ATM card, you can withdraw between $1,000-$5,000 daily from any ATM machine in the world. There is no risk of getting caught by any form of security if you followed the instructions properly. The Blank ATM card is also sophisticated due to the fact that the card has its own security making your transaction very safe and untraceable. For more info contact Mr. Calvin Grayson via email: officialblankatmservice@gmail.com or WhatsApp +447937001817

    ReplyDelete

Post a Comment

Popular posts from this blog

Report: World’s 1st remote brain surgery via 5G network performed in China

BMW traps alleged thief by remotely locking him in car

Visualizing The Power Of The World's Supercomputers