FTSE-listed bookmaker William Hill is reported to be closing down its Tel Aviv (Israel) office, which will see the company make approximately 200 staff members redundant.
Israeli news sources have reported that William Hill has warned Tel Aviv staff of the impending office closure, with the company beginning to cull staff numbers. The company aims to make 200 of its 250 Tel Aviv employees redundant.
The bookmaker, which holds a 5/5 performance rating on Bookmaker Ratings, has offered relocation opportunities to a small number of key employees to work within the firms UK headquarters or other European hubs.
Opened in 2008 in partnership with Playtech, who previously served William Hill as the firm’s main platform and software provider. William Hill Tel Aviv would function as the group’s lead technology and product development hub.
In 2013, William Hill governance decided to part company with Playtech, choosing to develop its own platform and product provisions. In order to separate its development capabilities, William Hill would buy-out Playtech assets for £400 million in order to ‘stand-alone’.
Since its Playtech divorce, William Hill has focused product and operational development from its cost friendly technology hub in Krakow (Poland). Speaking to industry news sources, William Hill detailed that it was seeking a new direction for its development and product arms as the company looks to open a new ‘Central London’ office later this year.