Paddy Power Betfair to Cut 650 Jobs Following Merger

The colossal Irish wagering firm, Paddy Power Betfair, is on the verge of dismissing nearly one-tenth of its staff, amounting to approximately 650 individuals. This development, initially unveiled by the Irish Times, has been foreseen since the amalgamation of the two entities in February, as numerous individuals apprehended job losses due to redundant positions.

The reductions will impact roughly 9% of the company’s 7,200 personnel. Projections indicate that 350 positions will be eliminated in the UK, and an additional 300 in Ireland. With 2,875 workers situated in the UK, this equates to a 12% decrease in their UK labor force.

These dismissals are a component of a broader cost-cutting initiative declared by Betfair last November, with the objective of conserving £50 million. The bulk of the 7,200 employees were originally affiliated with Paddy Power, which had over 5,000 employees in contrast to Betfair’s 1,900.

Although the precise repercussions on office positions remain ambiguous, it’s speculated that Paddy Power’s retail personnel will be largely untouched, as their functions are not readily duplicated within the consolidated enterprise. Betfair, unlike Paddy Power, lacks a physical retail presence.