Flutter set to axe 1400 jobs across UK and Ireland
Flutter Entertainment plans to cut up to 1,400 jobs across its UK and Ireland operations as the gambling group moves to reduce costs following substantial increases in British gambling taxes.
The restructuring will affect employees in Leeds and Dublin, along with staff supporting the business from offices in Porto, Portugal, and Cluj-Napoca, Romania.
Flutter, which owns Paddy Power, Sky Bet and Betfair, employs approximately 9,000 people in its UK and Ireland division. The proposed redundancies could eliminate almost 16% of those positions.
The company expects restructuring charges of between US$80 million and US$90 million, primarily covering severance payments and associated employee costs.
The decision follows an increase in Britain’s remote gaming duty from 21% to 40% in April 2026. Tax on online sports betting, excluding horse racing, is also scheduled to increase from 15% to 25% in April 2027.
Flutter UK and Ireland CEO Kevin Harrington said the tax changes had forced the company to reconsider its operating costs.
“As we warned a year ago, we cannot fully absorb a rise of this magnitude without reducing our fixed cost base,” Harrington said.
The operator began notifying affected employees on October 20, with most of the restructuring expected to be completed by the end of 2026, subject to consultation requirements.
The announcement follows cost-cutting measures at rival Entain, highlighting the financial consequences of Britain’s higher gambling taxes for licensed operators.
