Paddy Power owner Flutter axes 1,400 jobs blaming Labour's gambling tax hikes
Flutter is cutting 1,400 jobs in the UK and Ireland, citing increased gambling taxes imposed by the Labour government.Summary
Flutter, the owner of Paddy Power, Sky Bet, and Betfair, has announced the redundancy of approximately 1,400 employees across its UK and Ireland operations. The company attributes these cuts to significant increases in gambling duties implemented by the Labour government, which have fundamentally altered the industry's economic model.
The job losses will affect various locations, including the UK, Ireland, and several European sites. This move follows previous announcements regarding the closure of 100 Paddy Power shops. Flutter estimates that the tax hikes will cost the company over £400 million by 2027.
The industry is facing widespread instability, with other major firms like Bet365 and Betfred also announcing significant job cuts or shop closures. The Betting and Gaming Council warns that government tax policies could put up to 16,000 jobs at risk across the sector.
(Source：Mail Online)