IGT cuts 7 pct of jobs, lowers 2014 profit forecast

March 25 Tue Mar 25, 2014 4:22pm EDT

March 25 (Reuters) - Slot-machine maker International Game Technology said it would cut 7 percent of its workforce and lowered its adjusted earnings forecast for the year.

The company's shares fell 7 percent in extended trading.

IGT said it expected adjusted earnings of $1.00-$1.10 per share in 2014, down from the $1.28-$1.38 it forecast in November.

Analysts on average expect a profit of $1.20 per share, according to Thomson Reuters I/B/E/S.

IGT had 5,000 employees as of Sept. 30, 2013. (Reporting by Maria Ajit Thomas in Bangalore; Editing by Don Sebastian)