Ladbrokes makes second round of redundancies
A further 75 roles could go as Ladbrokes staff enter second consultation in four months
Up to 75 jobs at Ladbrokes’ Rayners Lane head office could be made redundant as the firm embarks on a second round of jobs cuts.
Employees from departments including HR, IT and trading will enter a consultation period this week, a company spokesperson confirmed to eGaming Review.
This second set of job cuts adds to the initial 90-day redundancy consultation which was announced in May after various key roles were shifted to its Ladbrokes Israel subsidiary formed as part of the operator’s licensing agreement with Playtech.
Around 100 roles, mainly related to product, marketing and customer support, were made redundant following the first consultation period, however around 50 are understood to have been redeployed elsewhere within the company.
A source told eGR that staff involved in the redundancies will begin their consultation with an initial meeting with Ladbrokes management tomorrow.
The news of more cutbacks follow yet another disappointing set of results for Ladbrokes.
Last month the operator revealed digital operating profit had fallen 28% year-on-year in the first half of 2013, with all verticals except sports showing decline and casino, poker and bingo falling 6.8%, 25% and 15.5% respectively.
CEO Richard Glynn has come under increasing pressure to turn the business around and he has suggested the agreement with Playtech will begin to bear fruit in early 2014.
Following the deal Ladbrokes immediately established its Israeli subsidiary and is currently more than half way through building a 100-strong marketing team in Tel Aviv. The new team, many of whom previously worked for Playtech, will be responsible for business digital operations management, marketing planning and spend, promotional activity and customer development.