The prominent Irish betting firm, Paddy Power Betfair, has revealed intentions to reduce its staff by approximately 650 employees, constituting around 9% of its total 7,200-person workforce. This announcement follows the February consolidation of Paddy Power and Betfair, which resulted in overlapping positions throughout the organization.
A significant portion of the reductions will occur in the UK, where 350 jobs, representing 12% of their UK-based employees, will be eliminated. Ireland will also experience a decrease of 300 positions.
These workforce adjustments are part of a broader cost-reduction initiative disclosed last November, with the objective of saving the company £50 million. A majority of the 7,200 employees were initially employed by Paddy Power, which possessed a considerably larger pre-merger staff compared to Betfair.
Although the precise consequences for office personnel remain uncertain, it is anticipated that Paddy Power’s retail workforce will remain mostly unaffected, as their responsibilities do not directly coincide with Betfair’s online-centric operations.