Flutter Plans Over 200 Job Cuts in UK and Ireland

Most Cuts Expected in Leeds Tech Division

Flutter Entertainment may lay off over 200 employees across its operations in Britain and Ireland as it moves forward with plans to consolidate several brands onto a single technology platform. While final decisions are yet to be made, the bulk of the redundancies are expected to affect the company’s technology and product teams in Leeds. Fewer than 10 positions are anticipated to be impacted at Flutter’s Dublin office.

The company has entered a consultation process with affected employees and has not confirmed specific locations or departments beyond those understood to be most at risk.

“As part of a broader strategy to bring some of our brands on to a single tech platform – and against the backdrop of increasing cost and regulatory pressure – we have entered into consultation with a number of colleagues”, said a Flutter spokesperson.

The group added that while it is working to redeploy staff where possible, some positions are likely to be made redundant later this year.

Financial Pressures Add to Restructuring Push

The company’s most recent earnings report showed mixed results. Sales rose by nearly 8% to $3.67 billion (€3.21 billion), but adjusted earnings came in at $1.59 per share, missing some market expectations. The group did, however, raise its overall sales forecast for the year by $1.15 billion, reflecting recent acquisitions and foreign exchange gains. At the same time, the annual revenue projection for its U.S. business was lowered by $280 million.

Flutter also confirmed this month it would begin passing on a newly introduced betting tax in the United States to customers. From September 1st, FanDuel users in Illinois will face a 50-cent fee on all bets placed through the platform.