Announced yesterday (19 November), exact details of the restructuring are not fully clear, though LiveScore said it would affect positions across multiple offices, including London. The process will supports its wider and ongoing “sustainable growth strategy”, the operator said.
LiveScore said the changes are a “difficult yet important step”, with streamlining helping to create improved structures. This, it added, will allow for a pathway to long-term sustainable growth.
All employees impacted by the restructuring are being told and will be subject to a confidential consultation process.
LiveScore CEO: Restructuring future proofs the business
Commenting on the restructuring, LiveScore CEO Sam Sadi (pictured above) says he is “saddened” the group is taking such action. He added, however, that it would support the business in the long term.
“On behalf of all directors of LiveScore Group, and the relevant subsidiary companies, we are saddened by the difficult decision to commence an internal restructure of the business,” Sadi said. “It is a process which impacts a significant number of our people.
“Whilst we celebrate our recent period of significant and exciting growth, we must now future proof the organisation and ensure our internal structures allow us to achieve long-term and sustainable success.
“This is a hard time for all our people, as we say goodbye to colleagues who have played an important role in our journey across recent years.”
Restructuring follows LiveScore Bet’s Netherlands exit
The restructuring announcement comes after LiveScore also confirmed its LiveScore Bet brand would be exiting the Netherlands on 12 November.
Alongside that announcement, LiveScore said a “confidential consultation process” with employees affected by the withdrawal had launched.
Operated by subsidiary LiveScore Malta, LiveScore Bet was among the first 10 entrants to the Netherlands igaming market in 2021. However, it will soon withdraw from the country following recent government tax increases in the market.
From 1 January next year the 30.5% tax on gross gaming revenue jumps to 34.2%. This will then increase again to 37.8% in the following year.
LiveScore Bet is the second brand second to pull out of the Netherlands in the wake of the tax rises. Flutter Entertainment-owned Tombola has also confirmed it will exit the country.
Original article: https://igamingbusiness.com/strategy/livescore-internal-restructuring-impact-100-roles/
