Paddy Power cuts 300 Irish jobs

Irish news sources have reported that Paddy Power is set to cut up to 300 jobs from its Dublin operations in-line with its post Betfair merger strategy.

The betting operator informed its Dublin staff yesterday. It is reported that the job cuts will likely be in overlapping business areas such as marketing, technology development and trading.

Paddy Power Betfair (PPB) governance continues its post-merger plan, in which the new enterprise has identified €50 million in short term savings, the majority of which will be gained through labour cuts.

In its merger prospectus Paddy Power and Betfair outlined that its new business entity would have a combined workforce of 7200 employees.

RTE.ie reports that affected staff have been offered ‘four weeks’ redundancy pay for every year worked as well as the two years’ statutory redundancy’.

Paddy Power will offer the employees the change to redeploy across the company, however the operator stated that positions would be limited.