NetEnt to Shed 55 Jobs in Re-structuring Shift

This story was published more than 1 year ago.

Swedish online betting giant NetEnt is looking to streamline operations to boost profitability which will see the company shedding 55 full time jobs.

The company is looking to move back to increasing game production, as 2018 has been quite light on new titles. Most of those losing their jobs will be from the firm's Stockholm headquarters, and will cost the company SEK 25 million, which will be non-recurring moving forward.

Speaking about the re-structuring NetEnt CEO Therese Hillman said, "By decentralizing our operations we take another step towards a new NetEnt, where customers and players are in focus. The new organization will have clearer responsibilities and more emphasis on value-creating initiatives. We are pleased to see the performance of our new game releases so far in the fourth quarter as we continue to diversify our game portfolio. Going forward, we increase the pace of output and expect to release 30 - 35 new games in 2019."

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Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
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lvblck
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12 December 2018 - 2:46pm
#1

That is quite a radical move, if I can say that. I do understand the reason but at the same time it will affect many people..

bgsharpe
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14 December 2018 - 3:20pm
#2

Yeah, it's never a good thing for those being released from their duties but it's part of the business and the way companies dealing in general so hopefully all those employees will be compensated in full for loosing their jobs.