Global sportsbook operator Entain is reportedly going to reduce its global workforce by 500 roles, representing approximately 2% of its employees.
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According to financial data first published by Bloomberg, the job cuts have already begun and will affect teams across corporate, products and technology.
In an email sent to staff, Entain said the move is part of efforts to improve efficiency and support its focus on “growth, margin expansion and cash generation.” The company cited a challenging operating environment, as the gambling market faces increased taxes, regulatory changes and rising competition from prediction market platforms.
The cuts follow tax increases introduced by the UK government in April this year.
