Paddy Power owner updates employees on group layoff plans

Flutter Entertainment, the Irish-headquartered betting giant and owner of the Paddy Power brand, will cut jobs at the group after informing its employees of likely layoffs.

he Sunday independent understands that it is too early to quantify the extent of the job losses due to the changes at Flutter, but it is expected that most of those affected will be able to be placed in alternative or new roles.

Flutter had reviewed its UK and Ireland division and developed a proposal for how it will organize its business functions, according to an email sent by outgoing Flutter UK and Ireland CEO Conor Grant last week.

Grant wrote that most people at Flutter were not directly affected.

“However, the proposals mean that some people will be affected and, unfortunately, at risk of being made redundant.”

The email adds that if the proposals go through, some people “would sadly leave the business”.

Grant explained the changes, writing in the email that the “operational landscape” has changed in 2022 and Flutter must respond to a “more challenging external environment.”

Along with “internal challenges,” he wrote that these are “impacting on our growth.”

Grant told colleagues Flutter designed a “simpler, flatter organization.” They want to increase efficiency, ie a stronger focus on costs.

Grant said so Sunday independent that the proposed changes reflected the next phase of Flutter’s integration as the company sought to consolidate operating models and continue to grow in a “more challenging operating environment”.

“While we have attempted to minimize the impact on our colleagues as most affected employees will be moved to alternative or newly created roles, the proposals may result in a small number of job losses.

“We are communicating with those affected as part of a consultation process and will provide them with the necessary support throughout the process.”

https://www.independent.ie/business/irish/paddy-power-owner-tells-staff-of-redundancy-plans-at-group-41876768.html Paddy Power owner updates employees on group layoff plans

Fry Electronics Team

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