Paddy Power owner to cut 1,400 jobs as it 'cannot fully absorb' Labour's gambling tax hike
Gb News
Flutter, owner of Paddy Power, plans to cut 1,400 jobs due to significant increases in UK gambling taxes.Summary
Flutter, the parent company of Paddy Power, Betfair, and Sky Bet, is preparing to cut up to 1,400 jobs, affecting approximately 15 per cent of its UK and Ireland workforce. The restructuring will impact employees in Leeds, Dublin, Porto, and Cluj-Napoca as the company seeks to reduce fixed costs following substantial tax increases announced in the UK government's budget.
The tax hikes include a rise in remote gaming duty from 21 per cent to 40 per cent, and an upcoming increase in the general betting duty for online bets from 15 per cent to 25 per cent. Kevin Harrington, CEO of Flutter UK and Ireland, stated that the business cannot
(Source：Gb News)