Flutter to Cut Up to 1,400 Jobs, Blaming UK Tax Rises

Flutter Entertainment, the owner of Paddy Power and SkyBet, will cut up to 1,400 jobs and blames tax rises imposed by Rachel Reeves for the decision.

The company said one in 10 of its UK and Ireland workers face redundancy because of what it called a "material increase in betting and gaming duties." The Dublin-based gambling group announced the restructuring of its UK and Ireland division on Tuesday.

Which offices are affected?

The cuts will hit staff in Leeds, Dublin and Sunderland. Redundancies are also expected to reach Flutter's offices in Porto, Portugal, and Cluj-Napoca, Romania.

That spread matters. The restructuring isn't confined to Britain, even though Flutter pins the blame squarely on UK fiscal policy. The UK and Ireland division is being reshaped as a single unit, with the job losses touching five sites across three countries.

What did Flutter actually say?

The company's core argument is fiscal. In its statement on Tuesday, Flutter attributed the plan to a "material increase in betting and gaming duties" — a direct reference to duty changes brought in under Chancellor Rachel Reeves.

Up to 1,400 roles are at risk. Flutter has framed that number as a consequence of higher taxation on betting and gaming, not as a response to weak trading or a strategic pivot in its own right.

Why does the politics matter?

The announcement puts Flutter at the center of a standoff between Britain's gambling operators and the Treasury. Reeves's duty increases have raised the cost of doing business for bookmakers, and Flutter is now converting that cost pressure into headcount reductions.

The scale is significant. One in 10 workers in the affected division translates to as many as 1,400 people across Leeds, Dublin, Sunderland, Porto and Cluj-Napoca. That makes this one of the largest redundancy programs Flutter has undertaken in its home markets, and it lands in the run-up to a UK budget season already focused on jobs and wages.

The timing also sharpens the message. By announcing the cuts on a Tuesday and naming the chancellor directly, Flutter has made the restructuring as much a political statement as an operational one.

What happens next?

Consultation processes with affected staff will determine the final redundancy count, which could come in below the 1,400 ceiling. Watch for other UK-facing operators to signal similar cost responses if the duty regime stays where Reeves has set it.