Gaming company Ladbrokes has announced that around 100 jobs are set to be cut at the company in the coming months.
It follows a new direction for aspects of the business, with the recent launch of Ladbrokes Israel and the transfer of many key roles to the Tel Aviv-based office. The cuts are set to affect those working at Ladbrokes’ head office in London, which will bear the brunt of the company’s move to Israel. Respresentatives of the company have said that some major roles will be moved from London to Tel Aviv “in order to maximise [the] potential” of the new office.
In a statement released by Ladbrokes, the company said the cuts are necessary as part of its shifting focus and goals in the gaming industry. “As a result of this and the company’s ongoing commitment to maximising efficiency, a number of Ladbrokes employees have been placed at risk of redundancy and a 90-day consultation period has begun,” the statement said.
“Ladbrokes envisages that around 100 roles will be affected at the conclusion of the process and appropriate advice and support will be provided to all those affected.”
It is currently believed that staff in Ladbrokes’ gaming team, marketing and support divisions will be among those most affected by the proposed cuts. The cuts would also mean that around 10 per cent of staff in its office in Rayner’s Lane, London.
The proposed cuts are the latest move in what have been a series of major reforms in Ladbrokes’ business operations. Ladbrokes Israel was launched at the start of this month following a long-term licensing agreement with software development company Playtech.
Ladbrokes also recently announced that it had taken on Jim Mullen as the director of its digital operations effective from November. Mullen was previously the Chief Operating Officer (COO) of Ladbrokes’ chief UK rival, William Hill. In another major change at Ladbrokes, Customer Experience Director Stephen Vowles announced his resignation from the post after completing a re-structure of Ladbrokes’ marketing functions.
In April, Ladbrokes announced that first quarter profits for the company fell by 25.8 per cent, and said its full year profits were likely to be towards the bottom of the existing market range.