Seen & Heard: Paddy Power merger could lead to job cuts
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Paddy Power is involved in a proposed £5 billion merger with Betfair. Photograph: Julien Behal/PA Wire
Odds fall on job cuts
The Sunday Times reports that Paddy Power and Betfair will yield savings of £25 million from their proposed £5 billion merger, raising the possibility of heavy job cuts. A circular about the deal shows that labour savings will constitute half the £50 million annual cost reductions from the merger. Paddy Power has 5,000 staff while Betfair has 1,900.