The merger between Paddy Power and Betfair does not bode well for their people.
Back in August, the two operators struck a deal to create one of the world’s largest betting and gaming companies that could be worth as much as £5.8 billion. However, The Sunday Times reported the move could to possible job cuts as the two companies are looking to get as much savings as they can from the merger.
Paddy Power currently employs an estimated 5,000 people, while Betfair has 1,900 employees. But a circular seen by the newspaper suggested the merger could save as much as £25 million from labor costs if they slash the number of their employees.
The staff cuts alone could already fill 50 percent of the planned £50 million in savings once the deal pushes through, according to The Sunday Times.