Ladbrokes owner prepares to cut 400 jobs weeks after profit boost
Entain, which also owns Coral and BetMGM, starts consultation process over customer care roles The Ladbrokes owner, Entain, has said it is preparing to cut 400 jobs, only weeks after the FTSE 100 business reported better than expected profit in its first half of the year. The gambling group, which also owns Coral and BetMGM, has started a consultation process that could remove one in five of its…
Entain, the parent company of Ladbrokes, Coral and BetMGM, is set to shed 400 jobs, following a profit boost in its first half of the year. The company, which is part of the FTSE 100, has initiated a consultation process that could result in one in five of its 2,000 customer care positions being removed. Chief Executive Stella David stated that these changes were necessary to maintain competitiveness and financial resilience amid a challenging operating environment.
This decision was not taken lightly, and the company's immediate concern is to support those employees who may be affected by the transition. The job cuts are partly attributed to higher UK taxes and a potential increase in machine games duty, which the Chancellor, John Healey, is considering in his upcoming budget. The proposed duty hike could significantly impact Entain's retail business in the UK, potentially leading to 1,470 betting shop closures and 15,900 job losses.
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