888.com face cutbacks
The gambling outfit Cassava, also known as 888.com, are set to release around 150 of their employees in Gibraltar, sources suggest, in the wake of the new US anti-online gambling laws.
However, PartyGaming, the other major player in the online gambling industry, are also predicted to reduce their workforce in Gibraltar, as these companies begin to respond the new climate they operate in.
888 Holding are yet to confirm the exact number of losses, because of a mandate in Gibraltar that dictates that a 60 day advance warning of dismissal must be given to employees. 888 Holding currently have a workforce of 381 at its Gibraltar headquarters and are in the process of restructuring their entire workforce.
"In light of the change in legislation in the US and the cessation of the company's activity in that country, and after reviewing current expenses, 888 is making general structural and workforce changes. Part of the workforce which worked directly with the US market was integrated into international departments."
Editor, Jackpot.co.uk - 2006-10-25 11:54:11