Flutter: 250 jobs set to be cut in Leeds as betting giant cites increasing costs and regulatory pressure
Betting giant Flutter is set to cut over 200 jobs in Leeds as part of a string of redundancies in the UK and Ireland.
The Paddy Power and Betfair owner said that it had entered into a consultation with a number of colleagues on job cuts, citing regulatory pressures and increasing costs as reasons for the decision.
The move also comes as the firm looks to move a number of its brands to one single betting platform.
It is understood that almost all the job losses will come from the firm’s Leeds site, with around 10 jobs set to be cut in its Dublin office.
A Flutter UKI spokesperson said: “As part of a broader strategy to bring some of our brands onto 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.” The job cuts are expected to come from the firm’s technology and product team.
A source close to Flutter told The Yorkshire Post that despite the cuts, the company plans to make further investment into its safe gambling operation in Leeds, creating a “centre of excellence” in the city.
They said: “We already believe we are industry leading when it comes to safer gambling but what we’re doing will raise the bar further still.”