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PaddyPower Looking at Job Cuts

Tuesday, April 5, 2016 : PADDYPOWER-BETFAIR MULLS JOB CUTS
 
Company advises staff that it plans to make cuts to 7,200 workforce.
 
The job cuts which are inevitable when large companies merge and have to handle staff activity duplications are on the horizon at PaddyPoker-Betfair, according to staff advisories sent out this week, which inform employees on the 7,200 workforce that around 650 jobs will have to be sacrificed.
 
Reporting on the issue Monday, the Irish Times revealed that it is likely that about 300 of the total will be lost from Ireland's 2,875 staff complement, while 350 jobs will go in the UK.
 
The proposed redundancy package is generous at four weeks salary for every year of service in addition to the two weeks statutory entitlement, the newspaper opines.
 
PaddyPower-Betfair has a target cost saving figure of Euro 50 million a year in mind to keep shareholders happy, and will be carefully considering areas where business duplication exists due to the merger such as personnel, finance, legal, operations in trading and risk, and perhaps even technology.
 
In related news, PaddyPower-Betfair chief executive Breon Corcoran has followed up on the departure of former Paddy CEO Andy McCue and CMO Gav Thompson with a more streamlined top executive team.
 
Paddy's former online chief, Johnny Hartnett, will become managing director for international commercial affairs (excluding Italy) and will oversee the group's B2B, risk and trading, and VIP divisions, whilst former Betfair business managing director Aine Flanagan will be m.d. responsible for UK and Ireland operations, along with the gaming division.
 
The merged group's retail interests will be the domain of Dan Wilson, who will also look after Italian operations.



Gambling News :

Aussie Millions won by Norwegian Jon Kyte and New Zealandís Daniel Smith - In this event, poker players teamed up in pairs to form 79 teams. The teams had to climb their way up to the throne by beating the other teams. A total prize pool of A$80,975 was shared amongst the teams. The Shot Clock Team became particularly popular because the players had to devise their own ingenious strategies so as to reach the top.

ACR $15 Million OSS Cub3d - Americas CardRoom immensely popular OSS Cub3d returns February 25th and it's bigger than ever. U.S. Online Poker players will have a chance to compete for $15 Million in guaranteed prize pools.

AIGF and Betradar formalised their relationship - At this yearís ICE Total Gaming, the All India Gaming Federation (AIGF) and Betradar formalised their relationship, committing to understand, explore opportunities and network across India around sports betting and gaming.

Lionís Roar Slot Pays Progressive at Ignition Casino - Ignition Casino saw a major win in one of their lion-themed slots last week. The recipient was a California slot player named Amber S.

EHF and Sportradar Extend Partnership - The EHF is responsible for a wide range of activities including the promotion and development of the sport, education programmes, player transfers and the organisation of high-profile sports competitions and events including the EHF EURO and the EHF Champions League.

Swisslos and Betradar in Deal - Swisslos offers lotteries, sport bets and instant tickets in the entire territory of German-speaking Switzerland, in Ticino and in the Principality of Liechtenstein. It structures its range of games in an attractive and responsible manner. Swisslos transfers it entire net profit to the mandating cantons and the Principality of Liechtenstein to support public causes.

World Snooker and Sportradar extend partnership - Extending a relationship that started in 2010, World Snooker is delighted to announce the renewal of their official data partnership with Sportradar.

Americas Cardroom offering mouth-watering value - It's not every day that an industry-leading poker site offers its customers an opportunity to put the house's money directly into their own pockets, but that's exactly whatís happening at Americas Cardroom.

Coolbet Joins Mpn - Coolbet, owned by the Estonian company StayCool OU, is a sportsbook driven brand with its own developed platform and sports software. In addition to sports, it offers casino and live casino gaming, and as of this week, poker.

RMG AND SIS EXTEND PARTNERSHIP - RMG manages the rights of many of the leading British racecourses, while SIS holds the horseracing rights to all Irish racecourses, plus Chelmsford City Racecourse in the UK.

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