Flutter Entertainment to make redundancies as part of UK&I restructure
Operator giant cuts costs with losses across trading and marketing divisions due to “challenging external environment”
Flutter Entertainment is set to make a series of redundancies across its UK and Ireland division as part of a company restructure and a “more challenging external environment”.
EGR understands the London-listed firm altered its management structure, shifting from UK&I brand CEOs to become chief commercial officers (CCOs) with full ownership of each brand.
These CCOs have been reviewing structures and operations at each brand over recent months, leading to a series of redundancy packages for staff.
EGR understands Contact Centre team managers, trading and marketing staff are among those impacted in plans.
In an internal email seen by EGR, outgoing Flutter UK and Ireland CEO Conor Grant attributed external macro conditions, along with a “long-term plan” to “power our brands and set up the UK&I for future growth” as the reasons behind the planned redundancies.
Grant said: “We have designed a simpler, flatter organisation, which will enable faster decision-making through clearer accountabilities. We want to drive efficiency and effectiveness and part of this will mean an increased focus on cost. Doing this will allow us to continue investing at the levels needed to deliver our strategy and maintain our market position.
“The proposals do mean that there are some people whose roles are directly impacted. It doesn’t mean that they will automatically be leaving the business. We expect that many will either be offered, or be successful in securing, other roles in the proposed structures.
“However, should our proposals be accepted, some people will unfortunately leave the business. This does not diminish the contribution that they have made in their time with us, or our appreciation for all their hard work,” Grant added.
The employees set to be directly impacted were informed yesterday. A series of departmental town halls were held in the afternoon to explain the new measures to staff.
EGR understands the impacted staff are set to be supported via an in-house Employee Assistance Programme.
Grant confirmed his resignation from Flutter last week, with the potential redundancy packages set to be one of the lasting memories of his tenure.
He is set to be replaced by industry outsider Ian Brown in September 2022.
A Flutter spokesperson said: “These proposed changes reflect the next phase of our integration, as we look to consolidate parallel operating models and position the business to continue growing against a more challenging operating environment.
“While we have sought to minimise the impact this will have on our colleagues, with most employees affected being redeployed into alternative or newly created roles, the proposals may lead to a small number of job losses. We are communicating with those affected as part of a consultation process and will be providing them with the support they need throughout.”