A spokesman for the company in Malta, where Kindred is headquartered, says online gambling operator Kindred Group is cutting 75 jobs in offices around the world.
A company spokesman pointed out that the decision to cut staff numbers had nothing to do with the ongoing global health crisis.
Planned layoffs are part of Kindred’s efforts to optimize its operations and reduce costs where necessary.
As mentioned above, Kindred is headquartered in Malta. The company also has 12 other offices in Europe, USA and Australia. The gambling operator has just under 400 employees working at its headquarters. The Kindred Group branches in Gibraltar, London and Stockholm also employ 300 to 400 employees each.
When a Kindred spokesman spoke to the Maltese newspaper Times of Malta, he said he would not disclose the number and nationality of employees being laid off at each of the group’s offices, but noted that only a few jobs would be cut at its corporate headquarters.
A company spokesman went on to say:
The redundancies are spread across most of our markets. The decision follows the previous announcement of the group’s financial performance during 2019 and subsequent actions to improve efficiency and reduce operating costs for its business.
A Kindred spokesman explained that the decision to cut jobs was made after careful consideration and analysis of the group’s business operations. This review was part of a broader analysis of Kindred’s cost base.
The downsizing is part of the group’s efforts to make its business operations more cost-effective and efficient so that they can better support its goal of providing long-term and sustainable revenues in regulated markets.
Kindred’s multi-brand portfolio is represented in many regulated markets. More recently, Unibet’s flagship brand has expanded into the United States, where many states have liberalized online gaming and sports betting laws in recent years.
Kindred plans to begin formal consultation on job cuts later this month.
Henrik Tjärnström, CEO of the company, said:
Exposing good colleagues to downsizing is a very difficult and painful decision, but unfortunately necessary as we adapt to the new realities of the market.
News of impending job cuts at Kindred came shortly after Swedish online gambling provider NetEnt announced that it would lay off about 120 employees at its offices in Stockholm and Malta as part of its full integration with Red Tiger. You can read more about the merger on the casinoz website.
NetEnt acquired a casino gambling production studio last fall and is gradually integrating its operations with Red Tiger to better position itself in the competitive online gaming space.