The newly merged Paddy Power Betfair is set to cut 650 jobs from its workforce, according to the Irish Times.
As part of the move, it is expected that 350 UK-based jobs will be lost with another 300 lost in Ireland. The company expects to make a saving of £50m.
Paddy Power and Betfair merged in February and currently have a combined workforce of 7,200. The cuts have arisen due to the fact that, in many cases, jobs have been duplicated following the merging of the two companies.
Paddy Power Betfair said that the cuts would not have an impact on staff at its land-based sites in the UK and Ireland as Betfair did not previously have a bricks-and-mortar presence.
