Flutter plans up to 1,400 job cuts, blames betting tax rises
Flutter Entertainment, owner of Paddy Power and SkyBet, plans to cut up to 1,400 jobs and says higher UK betting taxes are the cause.
Flutter Entertainment, the company behind Paddy Power and SkyBet, plans to cut up to 1,400 jobs. It blames higher UK taxes on betting and gaming.
The Guardian reports the company announced on Tuesday that it will restructure its UK and Ireland division. Staff in Leeds, Dublin and Sunderland are affected. Redundancies are also expected at offices in Porto, Portugal, and Cluj-Napoca, Romania.
The Guardian says Flutter described the risk as one in 10 UK and Ireland workers. It cited a "material increase in betting and gaming duties". The Guardian attributes the tax rises to Chancellor Rachel Reeves.
BBC News reports the government raised taxes on online casino and sports betting in the Budget a year ago.
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- BBC NewsPaddy Power-owner cuts 1,400 jobs and blames betting tax risesTue, Oct 20, 7:47 AM EDT
- The GuardianPaddy Power owner blames tax rises for plan to shed up to 1,400 jobsTue, Oct 20, 10:24 AM EDT
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