Entain axes nearly 10 per cent of local headcount

afr.com:

Entain, the operator of the Ladbrokes and Neds brands, has axed more than 50 local jobs as it attempts to adapt to lower discretionary spending.

The local offshoot of the London-listed wagering giant has also slowed plans to hire staff as part of a cost-cutting mandate from its global parent.

Entain sources familiar with the decision, who requested anonymity to speak freely about the changes, said headcount reductions and cost-cutting had occurred across the entire business, which has operations in the UK, Europe and South America.

Ladbrokes owner Entain has axed more than 50 jobs in Australia. Getty

One wagering source more than 80 jobs may have been lost locally, but others say the total headcount loss was closer to 60. The roles impacted are across multiple divisions, including customer service, digital, technology and marketing.

“Entain has enjoyed a rapid period of growth in Australia, and like any major technology led company we continue to review business operations and tweak our structures to set us up for the next stage of growth,” an Entain spokesperson said. “Unfortunately, this has led to a small number of redundancies across a range of business units.”

Ladbrokes launched locally in 2013, but has experienced rapid growth in the past two years as consumer spending skyrocketed. Two years ago, the team employed about 400 in Australia, a figure that has since doubled.

The British wagering giant last year launched a group of online television channels last year, in a bid to engage punters, hiring commentators and writers for the pre-race programs, social media and online content.

In March,Entain won the management rights to New Zealand’s sports betting monopoly which led 450 roles being integrated into the