The gambling holding company Entain has announced a major round of layoffs. 500 people, roughly 2% of the company's workforce, will be out of work.
The layoffs will affect employees from various teams, including the product development and technology departments, as well as the finance and HR departments. They will take place as part of an efficiency improvement program led by Entain’s new CFO, Michael Snape.
Entain emphasized that the layoffs are not a reaction to the recent increase in taxes on online gambling in the UK. It is part of the company's long-term efforts to optimize costs.
In any case, the layoffs are already the second significant change for Entain in recent times. Recall that at the end of June, the company announced plans to sell part of its business in Central and Eastern Europe — it has already reached an agreement with EMMA Capital for them to acquire 20% of Entain CEE for €425 million.