French betting operator PMU is moving ahead with a restructuring of its commercial operations that is expected to result in 47 job losses, after three of the four unions involved in negotiations approved a collective agreement.
The employment protection plan, launched in April under Chief Executive Cyrille Giraudat, will eliminate 128 existing positions while creating 81 new roles. Around 350 employees working mainly across PMU’s regional sales and field operations are affected by the wider reorganisation.
The agreement was signed this week by the Syndicat Hippique National, Autonome and Force Ouvrière. The French Democratic Confederation of Labour, or CFDT, declined to approve the plan and has raised concerns about the way PMU is reshaping its commercial structure.
No positions at PMU’s Paris headquarters are expected to be removed under the plan. Instead, the changes are concentrated on employees working directly with the company’s extensive retail network, an area that CFDT argues remains critical to PMU’s future.
PMU operates around 14,000 points of sale across France, with retail horse-racing betting continuing to account for the large majority of its domestic racing activity. The company says more than 90% of its overall business remains linked to horse racing, while it also operates online sports betting and poker products.
The restructuring comes as PMU attempts to reverse pressure on its core racing business. Group betting stakes fell by 2% to €6.6bn in 2024, while the amount returned to France’s racing industry declined from €835m in 2024 to €802m in 2025.
One of the operator’s major challenges is attracting younger customers to horse racing while maintaining the retail network that has traditionally supported the sport. CFDT has argued that regional commercial teams play an important role in supporting partner bars and tobacco shops and in generating interest in racing among new customers.
The workforce changes form part of the wider Pacte PMU 2030 transformation programme. Giraudat, who took over as CEO at the beginning of 2026, has been tasked with accelerating PMU’s modernisation and strengthening its customer proposition. Former French minister Eric Woerth, appointed Chairman of PMU’s board in March, had previously worked on the Pacte PMU 2030 programme designed to modernise both the operator and the wider racing sector.
Digital expansion is another major part of the strategy. Earlier this year, PMU launched PMU PLAY, bringing horse-racing betting, sports betting and poker together within a single digital platform. The company described the product as a central part of its plan to revive online growth and modernise the customer experience.
PMU has also been expanding internationally. In August, it announced a multi-year agreement with BetMakers Technology Group aimed at increasing the distribution of French horse racing through fixed-odds betting markets outside France.
The employment agreement will next be submitted to PMU’s Social and Economic Committee on 23 September. It will also require approval from the relevant French labour authorities before the restructuring can be fully implemented.