The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Arts / Entertainment Arts, Entertainment And Culture Gambling And Betting Activities 92.00 - Gambling and betting activities
130 jobs Number of planned job losses
Announcement Date
29 January 2018
Employment effect (start)
29 January 2018
Foreseen end date
29 January 2018
Description
Malta's largest online betting company, Betsson, has reduced its workforce by 130 employees, as part of an internal restructuring process to streamline the Group and increase its efficiency.
Termination letters will be issued at the end of January and job cuts were implemented with immediate effect. This measure will reduce the local company’s 1,100 employees to 970 and is predicted to save the company somewhere between € 5 to 6 million annually. Betsson, which prior to this restructuring employed 1,900 workers globally, will be cutting a further 30 jobs from one or more of its 11 other locations.
The government is confident that the employees who are being made redundant will find employment with other companies in the gaming sector. It has also expressed its gratitude to Betsson for reaffirming that it will retain its headquarters in Malta.
Sources
29 January 2018: https://www.timesofmalta.com/
29 January 2018: http://www.independent.com.mt/
Citation
Eurofound (2018), Betsson, Internal restructuring in Malta, factsheet number 93253, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93253.
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