Paddy Power Betfair to Cut 650 Jobs Following Merger
The Irish gaming behemoth, Paddy Power Betfair, intends to reduce its staff by almost 10%, eliminating 650 positions. This announcement follows the February union of Paddy Power and Betfair, which resulted in some redundant roles.
A large portion of the job losses, approximately 350, will affect the United Kingdom, where the firm employs 2,875 individuals. This constitutes a substantial 12% decrease in their UK employee base. An additional 300 jobs will be eliminated in Ireland.
These reductions are part of a broader strategy to decrease expenses by £50 million post-merger, as detailed in a shareholder circular last November.
Although the precise consequences for individual offices remain uncertain, it is anticipated that Paddy Power’s retail personnel will be mostly unaffected, as their functions are not easily duplicated within the consolidated entity.
