Over 200 Job Positions Are at Risk at Flutter Entertainment
More than 200 jobs are reportedly at risk at Flutter Entertainment, with the majority of the positions in danger located in its Leeds office.
Key Facts:
- Flutter owns brands like Skybet, Paddy Power and Betfair
- Company recently moved its stock listing from London’s FTSE to the NYSE in America
- Jobs in Flutter’s Leeds office are among those most at risk
- Further positions in the Dublin office of Flutter could also go
Flutter has not confirmed exactly how many jobs will be lost, but the company did admit it is going through a restructuring that could lead to redundancies.
Having recently switched its stock listing from the FTSE index in London to the New York Stock Exchange, Flutter is also moving Skybet on to its Paddy Power Betfair platform.
Flutter’s technology and product team is thought to be where most jobs cuts will be.
As many as 200 jobs are reportedly at risk at the company’s Leeds office, while further positions in Dublin could also be set to go.
Redeployment Opportunities
Flutter gave a statement explaining the reason behind the potential job losses.
A spokesperson for Flutter said: “As part of a broader strategy to bring some of our brands on to a single tech platform – and against the backdrop of increasing cost and regulatory pressure – we have entered into consultation with a number of colleagues.”
“While we are working with those affected to explore redeployment opportunities wherever possible, it is likely that some roles will regrettably become redundant later this year.”
Flutter employs around 8,640 people in the UK and Ireland, which is close to a third of its total headcount of almost 25,000, according to its latest annual report.
The company recently said that its UK and Ireland region had revenues of $882 million in the first quarter of the year.
This is its second biggest region, but it lags behind the vast revenues recorded in the US.
Investment In Leeds
While some Flutter workers in its Leeds office could be facing redundancy, the company insists it is still investing in its Yorkshire base.
A Flutter representative told the Yorkshire Post that it wants to create a “centre of excellence” in Leeds, which would result in new positions being created.
Flutter previously opened a new £15 million UK technology and innovation hub in Leeds, with space for 1,700 of its workers.
The firm’s base, which is located at 4 Wellington Place in the Leeds Dock area, is expected to be where the majority of the upcoming job losses will take place.
Flutter recently announced that it has made a £25,000 donation to Leeds Rhinos Foundation, with the money used to save crucial community sports programmes for people with dementia and Parkinson’s.
Employees of the company also took part in a special volunteer day at AMT Headingley Stadium, the home base of the Leeds Rhinos rugby league team.
