PENN - What's Going On With PENN Entertainment Shares After Announcing Layoffs? | Benzinga
PENN Entertainment, Inc. (NASDAQ:PENN) shares are trading marginally lower on Thursday.
Penn Entertainment reportedly plans to lay off approximately 100 employees as it shifts focus to expanding ESPNBet.
CEO Jay Snowden communicated in an internal email that these adjustments aim to improve operational efficiencies following the acquisition of theScore in 2021, reported CNBC.
The company has a workforce of approximately 20,000 employees.
“When PENN acquired theScore, we hit the ground running with the build-out of our proprietary ...