Bet365 announces plans for 340 job losses

The gambling firm bet365 has announced plans to cut 340 staff as part of a business restructure.

It said the jobs would go at its headquarters in Stoke-on-Trent and its offices in Malta and Gibraltar.

The company said it had been "facing a highly competitive trading environment, plus increased regulatory and tax-related costs" and the moves were to "secure the business's long-term future".

The job cuts equate to about 3% of its workforce it said.

It promised it would be "exploring all avenues to reduce the number of redundancies" and was offering a programme of voluntary redundancies.

A spokesperson said: "Our colleagues are our priority. We understand the concerns many will have. Impacted staff have been informed and are being fully supported throughout this process."

The bet365 headquarters in Stoke-on-Trent currently employs around 5,500 staff.

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