Published on 6th April 2016 by Andrew Mills

Paddy Bower Betfair has announced plans to cull 650 jobs across three offices in the UK and Ireland, including the PowerTower in London. The plans are part of a streamlining effort in the wake of the merger between Paddy Power and Betfair.The workforce is currently 7,200 strong, and the cuts are part of a planned £50 million cost synergies that was announced before the merger took place. The cull is expected to affect 350 workers in the UK, and another 300 in Ireland, with the cuts being focused on duplicated positions.

Necessary step

In an e-mail sent to employees, CEO of Paddy Power Betfair, Breon Corcoran said the cuts were:“[a] necessary step to create one efficient business… With the appointment of senior leaders now largely complete, we’re starting work on the detailed design for each function at the next level.”He went on to say there was “still work to do” in terms of the approach to restructuring and the affected roles:“We will seek to redeploy staff across the business where possible. Where not, we commit to treating employees fairly and to supporting them in their transition.”

New London office

The current Paddy Power office in Euston will be closed as part of the plans, with staff being moved to Hammersmith, where the new office of Paddy Power Betfair will be.The Stevenage office is also planned to be closed, with staff from that site being moved either to Malta or Exchange operations in Dublin.This announcement comes shortly after Paddy Power Betfair COO Andy McCue made a surprise exit from the company just months after the merger. Paddy Power Betfair have made no official comment on the plans.