French betting operator PMU’s restructuring plan faces opposition over “commercial contradictions”
One union has refused to sign PMU’s restructuring proposal, which still needs government approval.
France.- Pari Mutuel Urbain (PMU) has confirmed plans to restructure its horseracing and pool betting network. Three of the four trade unions involved have agreed to a collective deal that will result in 47 job losses. However, the French Democratic Confederation of Labour (CFDT) has refused to sign, criticising what it described as “commercial contradictions”.
An Employment Protection Plan was introduced in April by new CEO Cyrille Giraudat with the aim of restructuring PMU’s sales department. The proposal involves cutting 128 roles while creating 81 new positions. According to the Libération newspaper, the Syndicat Hippique National, Autonome and Force Ouvrière signed the agreement earlier this week.
The restructuring will affect around 350 staff, primarily within regional sales and outreach divisions, though no positions at PMU’s Paris headquarters will be impacted. The CFDT has argued that the plan undermines the teams responsible for maintaining PMU’s 14,000‑strong bar tabac retail partner network, which it sees as crucial to attracting younger audiences to horse racing.
Despite remaining Europe’s largest horseracing betting operator, the company has struggled to rejuvenate its ageing customer base. There have been differences of opinion on the way forward amid a decline in stakes. Returns to racing stakeholders dropped from €835m in 2024 to €802m in 2025.
Giraudat, who took over in January following the departure of Emmanuelle Malecaze‑Doublet, has been tasked with delivering the group’s transformation strategy Pacte PMU 2030. Strategic priorities include modernising PMU’s core racing product, which was left incomplete after Malecaze‑Doublet’s resignation. This year the operator launched its new app, PMU Play, with Kambi as its sports betting provider. The app is designed to cross‑sell racing customers into sports betting and poker, offering a single login across all three products. PMU has also been negotiating with Playtech over a potential player account management (PAM) agreement.
The PMU restructuring plan will be presented to its Social and Economic Committee on September 23. It requires approval from France’s labour authorities before implementation.
