Bet365 to Lay Off 340 Employees Amid Operational Challenges

Bet365, one of the most influential gambling firms in the world, has announced it will be laying off 340 employees, which represents 3% of its global workforce. The bulk of the job cuts, amounting to 300 people, will occur in Stoke-on-Trent, the company's hometown. Additionally, 40 job cuts will come from the company’s offices in Gibraltar and Malta.

The decision to reduce the workforce is attributed to increased regulatory and tax-related costs, along with a more competitive trading environment. The remote gaming duty increased to 40% in the last year’s budget, and a new remote betting duty of 25% is set to take effect in April 2027.

Bet365 is planning a programme of voluntary redundancies to minimize the impact on employees. A company spokesperson stated, "We're committed to minimising the impact on our people and are exploring all avenues to reduce the number of redundancies. As a first step, we're planning a programme of voluntary redundancies. Our colleagues are our priority. We understand the concerns many will have. Impacted staff have been informed and are being fully supported throughout this process."