Flutter Entertainment has announced an anticipated 1,400 redundancies across its European workforce, subject to final consultation, as part of a major restructuring initiative.
Indeed, the operator has outlined restructuring across its UK & Ireland business. However, it stated that redundancies are to be expected across its workforces in Portugal and Romania, as well as in its UK and Ireland hubs in Leeds and Dublin.
The outlined cost of this restructuring has been set at between $80m and $90m, with the operator stating that these costs were “captured” within the updated financial guidance outlined in its Q2 2026 report – which saw a revenue rise of 3% year-on-year to $4.3bn, but net loss increase to $296m.
Also announced as part of Flutter’s Q2 report, of course, was the departure of long-serving CEO Peter Jackson, who has now been succeeded by Dan Taylor. This decision swiftly followed Amy Howe’s departure from FanDuel, Flutter’s US subsidiary.
The operator has stated that recent rises in UK gaming tax – which elevated from 21% to 40% for remote gaming in April – have necessitated this restructuring. Nevertheless, as of the time of writing, Flutter’s share price remains down almost 70% in comparison to this time last year, with many theorising that competition prediction markets – alongside increasingly tricky market conditions – have caused the drop.
Flutter has stated that this latest initiative is expected to deliver “material second-order mitigation benefits, by preserving investment in our customer proposition and underpins our confidence in our ability to gain share.”
Commenting on this latest development, Kevin Harrington, Flutter UK & Ireland CEO, stated: “My immediate focus is providing the necessary support for all of our impacted colleagues and guiding our teams through what we know is going to be a difficult and challenging period for all concerned.
“The material increase in betting and gaming duties announced in the UK Budget last year has fundamentally changed the economic model of the regulated betting and gaming industry in the UK while helping to fuel the unlicensed, unregulated market.
“As we warned a year ago, we cannot fully absorb a rise of this magnitude without reducing our fixed cost base and therefore must restructure our business so that we can best position ourselves for the future. We remain confident that we are well placed to benefit from share gains given our position as the largest scale operator in the UK.”
This latest initiative, combined with a major executive leadership overhaul, mark the potential beginning of a new era for Flutter, which continues to flounder under growing internal and external pressures.
Contextually, Flutter Entertainment employs 28,500 across the globe, with 9,000 employees across the UK and Ireland
