Entain Announces Workforce Reductions in Australia and New Zealand
Entain Plans Significant Job Reductions to Cut Costs
Entain has announced plans to reduce its staff numbers in Australia and New Zealand as part of a broader initiative to streamline operations and cut local expenses. This move follows previous layoffs that affected dozens of employees within the company.
Targeting Up to $60 Million in Savings
The company aims to reduce its workforce by approximately 10% in these regions, potentially impacting around 120 positions. Recent months have already seen Entain cut 60 jobs and initiate consultations on another 60 roles as it steps away from its Entain Venues strategy and discontinues the Racing Club project.
Job cuts will touch nearly all departments except for teams involved in Anti-Money Laundering (AML) and safer gaming. By achieving these cuts, Entain seeks to lower its ongoing operational costs by as much as $60 million.
Alongside workforce reductions, the company is expected to limit sponsorship renewals and review all business expenditures to enhance efficiency. A company representative emphasized the goal of fostering a “win, but not at all costs” culture moving forward.
Facing Regulatory Challenges
Entain is also preparing to address legal challenges related to compliance with Australia’s anti-money laundering regulations. Recently, the company responded to a Federal Court civil case initiated by the Australian Transaction Reports and Analysis Centre (AUSTRAC), showcasing significant improvements in its compliance processes.
This legal matter involves 17 high-risk customer accounts that collectively moved more than AUD 152 million through Entain’s platforms. While acknowledging some past errors, Entain maintains that these were due to misjudgments rather than deliberate violations and stresses that internal controls have been strengthened substantially since the incidents.
Industry-Wide Workforce Adjustments
Entain’s workforce restructuring occurs alongside similar moves in the industry, with The Star Entertainment Group reportedly considering layoffs involving around 40 senior staff members.
