Betsson to shed 160 employees – report
Betsson is to reduce its employee head-count by up to 160 members of staff, 130 of whom are located in Malta, according to the Times of Malta newspaper
Betsson is to reduce its employee head-count by up to 160 members of staff, 130 of whom are located in Malta, according to the Times of Malta newspaper.
Jasper Svensson, chief executive of Betsson, told the newspaper in an interview that termination letters will be handed out today (Monday).
Svensson made it clear that the decision to cut staff is in no way linked to the Maltese jurisdiction.
“It is the result of a rapid acquisition strategy,” Svensson told the newspaper.
Betsson employs around 1,100 people but is said to be keen to cut staff as part of a wider restructuring and streamlining initiative.
It is estimated that shedding the 160 employees could save Betsson as much as SEK60m (€6.1m/$7.6m) each year.
Pontus Lindwall, chief executive of Betsson International, added: “In cooperation with the operational management team, we have started to implement actions to improve operations.
“The restructured organisation will be more streamlined with clearer responsibilities, which I believe will improve its efficiency over time.”
Related article: Betsson names Svensson as CEO of operational subsidiaries