Paddy Power Slashes 1,400 Jobs Citing New Betting Tax Increases

Irish betting group Paddy Power has announced the elimination of 1,400 positions, representing a significant reduction in its workforce. The company said the cuts are a direct response to higher levies imposed on online casino and sports‑betting operators in the UK and Ireland.

The tax hikes were introduced in the previous year’s Budget, raising the cost of running digital gambling platforms. Paddy Power argues that the increased fiscal burden makes its current business model unsustainable, prompting the restructuring.

The job reductions will affect staff across several departments, though the firm did not disclose the exact locations or the timeline for the layoffs. Executives emphasized that the move is intended to preserve the company’s long‑term viability in a tighter regulatory environment.

Why It Matters

Higher gambling taxes in Europe are reshaping the profitability of betting firms, which could affect market competition and employment in the sector.