Entain has u-turned on its claim to not cut jobs across the company, after reports from Bloomberg revealed that the multinational betting group is set to cut 500 jobs – roughly 2% of its total workforce.
Earlier this year, Entain Chief Executive Officer Stella David warned that new tax increases coming into force across the company would not result in job losses. However, the recent announcement of 500 redundancies signifies a shift in the company's stance on job cuts.
Entain's decision to cut jobs comes amidst a challenging period for the betting industry, with various regulatory changes and economic uncertainties impacting operations across the sector.
