Entain is set to eliminate around 500 positions across its global business as part of a wider restructuring programme aimed at improving operational efficiency, with the initiative being spearheaded by recently appointed chief financial officer Michael Snape.
The Ladbrokes and Coral owner said the planned workforce reduction is designed to simplify its organisation and strengthen long-term performance rather than respond directly to recent pressures in the UK gambling market.
The job cuts will affect several corporate functions, including finance, governance, product and technology teams. Entain confirmed it has begun consultations with affected employees and said support measures will be provided throughout the process.
In a statement, the company said the organisational changes are intended to improve agility and efficiency while positioning the business for sustainable growth and stronger shareholder returns. Management acknowledged the impact on employees but argued the restructuring would create a leaner and more competitive organisation.
Michael Snape took over as Entain’s CFO in March after succeeding long-serving finance chief Rob Wood. Before joining the FTSE 100 gambling group, Snape held senior finance roles at International Distribution Services, Boots and Tesco.
Although the company has denied that the layoffs are a direct consequence of the UK’s tougher gambling regulations and higher online gambling taxes, Entain has been implementing broader cost-saving measures to offset rising expenses. Earlier this year, the group said optimisation initiatives would help absorb more than half of the additional tax burden expected from changes to UK gambling duties.
The restructuring comes alongside other strategic moves by the operator, including the recently announced sale of its 20% stake in its Central and Eastern European joint venture to EMMA Capital for approximately €425 million as part of efforts to reduce debt and sharpen its strategic focus.
Separately, Entain has continued to advocate for tighter action against illegal gambling operators in the UK, recently urging the government to prohibit unlicensed betting companies from sponsoring sports teams. The company argues that stronger enforcement is needed to protect consumers and prevent the black market from gaining further ground over licensed operators.