Veikkaus to lay off up to 195 staff

Finland’s gambling monopoly has completed restructuring negotiations.

Finland.- The state-controlled gambling monopoly Veikkaus has announced that it will lay off between 125 and 195 staff as it seeks to cut costs following a major drop in revenue over the past year. It began redundancy talks in August as it looked at how to downsize its operations following the heavy impact of Covid-19 on land-based gaming. 

It’s now announced that it will axe around 15 of its gaming halls which it said its own responsible gambling measures had made unprofitable. The operator has introduced compulsory ID verification and permanent loss limits for all slots.

Up to 195 staff will be affected, while another 60 to 110 have seen changes made to their contracts. Some 50 contractors have also seen their contracts amended. The changes enter force in January and aim to save the company €15m per year. Some staff will be offered the option to move into new roles.

Jari Heino, senior vice president for channels and sales, said: “Those leaving the company will be offered support during the change.

“Most members of Veikkaus’ personnel that the negotiations concerned will be offered new positions within the company. For example, Casino Tampere, which will be opened in December, still needs dozens of gaming industry and customer service professionals. 

“The sustainable casino of a new era of gaming will offer great facilities and jobs for many people. It is essential that we look ahead and work to make sure that Veikkaus retains its dynamicity today and tomorrow.”