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Thursday, August 11, 2022

Paddy Power owner tells staff of redundancy plans at group

Flutter Entertainment, the Irish-headquartered betting giant and owner of the Paddy Power brand, is set to cut jobs at the group after informing its staff of likely redundancies .

he Sunday Independent understands it is too early to quantify the level of job losses due to the changes at Flutter, but there is an expectation it will be able to redeploy most of those affected into alternative or new roles.

According to an email sent by outgoing Flutter UK and Ireland chief executive Conor Grant last week, Flutter had been reviewing its UK and Ireland division and had developed a proposal for how it will organise its business functions.

Grant wrote most people at Flutter would not be directly affected.

“However, the proposals do mean that some people will be impacted and unfortunately be at risk of redundancy.”

The email adds that, should the proposals be accepted, some people would “unfortunately leave the business”.

Explaining the changes, Grant wrote in the email that the “operating landscape” had changed in 2022, with Flutter needing to respond to a “more challenging external environment”.

Together with “internal challenges”, he wrote these were “impacting our growth”.

Grant told colleagues that Flutter had designed a “simpler, flatter organisation”. It said it wanted to drive efficiencies, meaning an increased focus on costs.

Grant told the Sunday Independent that the proposed changes reflected the next phase of Flutter’s integration as it sought to consolidate operating models and continue growing in a more “challenging operating environment”.

“While we have sought to minimise the impact this will have on our colleagues, with most employees affected being redeployed into alternative or newly created roles, the proposals may lead to a small number of job losses.

“We are communicating with those affected as part of a consultation process and will be providing them with the support they need throughout.”

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