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NetEnt Lays Off Hundreds of Employees Weeks before Christmas

Tags: Evolution Gaming, NetEnt.
Posted on 03 December 2020 by "T".

iGaming company NetEnt informed almost 300 employees that it decided to terminate their jobs with immediate effect on Tuesday. The employees face an uncertain holiday season as a result of this, according to In-Nazzjon ("The Nation", a daily newspaper in Malta).

The newspaper says on Tuesday morning, the Malta-based gaming company has begun cutting jobs and closed down its live casino studio in Qormi after it was acquired by another industry giant.

The employees at NetEnt were sent home and told to expect an email from their employer with further instructions. This incident unfolds following the acquisition by Evolution Gaming.

As with a lot of company mergers or acquisitions, there's bound to be redundant job positions the employer(s) will have to trim off and unfortunately NetEnt's employees will lose their jobs as part of this deal. According to Times of Malta, a few hundred has been laid off. To help the workers who lost their jobs before Christmas, a special government helpline has been set up.

A spokesman for Evolution Gaming said its Qormi-based studio will be closed down so "the people working directly with this product are at risk of redundancy. The formal redundancy processes have been initiated."

Just three months ago, NetEnt announced it was expanding its Qormi studio with new blackjack tables because there was an increased demand. However, sources said some redundancies are naturally expected as part of the takeover. Evolution Gaming submitted its all-share deal to acquire NetEnt in June, valuing the company at SEK19.6 billion (approx. $2.1 billion).

Alternative Job Support Promised

In September, NetEnt secured an approval from the Malta Competition and Consumer Affairs Authority. The Economy Ministry said it will hold meetings to identify alternative jobs for employees directly affected by the restructuring process. It said the acquisition had "led to the closure of some business lines in Malta and elsewhere."

"Whilst noting the strong commitment by Evolution Gaming to its Malta operation, the Government, through the Ministry for the Economy and Industry, has immediately started discussions with the relevant entities to facilitate the smooth transition of employees who may be at risk of being laid off as a result of this restructuring."

The Economy Ministry urged staff to register for employment through JobsPlus and it also set up a dedicated helpline on 22201251 to assist affected individuals, saying "Further arrangements have also been done for JobsPlus to offer a purposely set-up job matchmaking support service to the affected persons."

Also, it said that Gaming Malta Foundation is currently in talks with other gaming operators who have "readily available job opportunities".

About NetEnt

Founded in 1996, Net Entertainment (NetEnt) is a leading provider of premium gaming solutions like video slots, blackjack, roulette and scratch cards to the world's most successful online casino operators. They have been a true innovator in driving the market with delightful games powered by their cutting-edge platform.

Cultural diversity exists in all of NetEnt's offices. Over 1,000 global employees contribute to NetEnt's presence in Malta, Sweden, Gibraltar, Poland, Ukraine, the UK and USA. They all have a common passion for bringing out the best in gaming that ensures they achieve great things together.

Net Entertainment keeps coming up with new entertaining, high-quality slots all the time and has developed so far over 200 thrilling games, including Aliens, Boom Brothers, Blood Suckers, Dead or Alive, Divine Fortune, Dracula, Gonzo's Quest, Guns N' Roses, Jack and the Beanstalk, Jack Hammer, Jimi Hendrix, Reel Rush, Starburst, South Park, Twin Spin, and Mega Fortune.

In late 2019, NetEnt acquired online slots maker Red Tiger Gaming in a £200 million deal.

Evolution Gaming in turn has successfully acquired NetEnt (and of course, also Red Tiger Gaming) before the year 2020 ends.

Source:
https://cde.news/malta-gaming-company-lays-off-300-employees/
https://timesofmalta.com/articles/view/hundreds-of-job-cuts-at-gaming-company-netent.835931

 


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21 comments on "NetEnt Lays Off Hundreds of Employees Weeks before Christmas"


 geseco1203/12/2020 18:12:54 GMT
Well, work is important to survive, well, I do not know the reasons for the dismissal but for Christmas they should increase staff, which happens that due to the pandemic several companies are reducing staff to lower costs, well, on the other hand, it is fine, but the most affected are workers, but just to continue and new times will come.
 dule-vu03/12/2020 22:46:35 GMT
dont understand this move from netent at all!they are biggest game and slot company on market,they have so much money,but still somebody else will buy them and now when people play even more games in this crises,they will let people down and just before new year they will be out of job!every bigger casino site have their games,but now they tell how they dont earn enough!
very bad move from my point!
 bowie198403/12/2020 22:51:59 GMT
This is a pretty standard thing after corporate mergers - with or without this pandemic economy background. In reality they don't need the full former workforce since aquisitions on this scale are more about Intellectual property and marketshare.
 dule-vu03/12/2020 23:03:09 GMT
maybe its strandard,but as we can see from this news,nobody expected this and it will be from tuesday,so why so soon and why just before christmas and new year?
and as they were biggest company on market,they could do something with their employees and to ensure them jobs before sale,that they make contract with new owner,that they cant be fired!
every country have corona crise,so how the hell they will find new jobs in next months,especially arround new year?
 CALICUL04/12/2020 01:42:43 GMT
This decision is absurd because NetEnt could leave them for 3-4 months and then make them unavailable... In December, having such a vile behavior against of workers is not fair. They probably have problems or maybe covid is guilty.
 antonis32104/12/2020 07:52:12 GMT
Sad that they didthis now ,before Christmas . These 300 stay without job ,their families without salary . I wonder if they could have waited for one two months ... Because of restructuring of the company that was unavoidable , it happens in all these deals , also in all companies when theyface a change of their business plans . Unfortunatelly workers are always the victims , but hopefully now for these workers in Malta , the govermant will take some measures and take care of them .
 Rogerio1004/12/2020 16:46:35 GMT
Wow a big company like that, and they cant wait and give those people the job at least to the end of the year and then fired them? "Very nice" early christmas present this people get. I hope they will find equeal or even better jobs trough that goverment help that is ben set up to them.
 dule-vu04/12/2020 23:22:00 GMT
still cant believe that such a big and rich company do something like this and that they tell to people that they dont need them anymore few weeks before christmas!also this company will need people to work as they now will be even bigger,so its strange how they dont need so many of them!
must say that I am very disappointed about netent move before sale!they could have better deal in contract for their people!
 misteriopj05/12/2020 13:57:48 GMT
It is unfortunate what happened with the employees of the company, we hope they can solve and do not spend a Christmas unemployed, all this motivated by this pandemic that continues, hopefully it ends and we start again
 dule-vu05/12/2020 23:39:44 GMT
they have enough time to make something from this problem and to help this people to find job in some company that also make slots and games!they could make some contract with new owners to take all of people or they will not sale their company and they would listen to them if they want so much to buy netent!
 bowie198406/12/2020 01:39:18 GMT
Posted by misteriopj:
It is unfortunate what happened with the employees of the company, we hope they can solve and do not spend a Christmas unemployed, all this motivated by this pandemic that continues, hopefully it ends and we start again

Dude, look around in the world. They were even lucky to be employed this long and most of them would have severance pay anyway. I really don't think these people need our pity.
 CALICUL06/12/2020 19:27:27 GMT
The most important thing is for these people to be helped by the states where they live. Help for pay monthly bills but also food etc... When these things happen we can't eat if don't have money. Just as they ask for votes, must unlock funds.
 dule-vu07/12/2020 00:08:47 GMT
Posted by bowie1984:
Posted by misteriopj:
It is unfortunate what happened with the employees of the company, we hope they can solve and do not spend a Christmas unemployed, all this motivated by this pandemic that continues, hopefully it ends and we start again

Dude, look around in the world. They were even lucky to be employed this long and most of them would have severance pay anyway. I really don't think these people need our pity.


I understand what you say,you probably mean how many people in world lost their jobs because of this corona situation and how long they dont work,especially in winter days and in countries where restraurants,cafes and similar things are closed,like in my country!
but still they could make some deal for this people,not that 300 of them lose their jobs!
 antonis32108/12/2020 11:06:47 GMT
Everywhere these days workers are out of work because of the dificulties businesses face with this COVID crazy virus . ofcourse this is a different scenario ,it's not COVID , but the emerge of these two companies , and the business plan , but then agian I believe the crisis will live make everything worse , so instead of firing y workers you will have to fire 2xy workers at least , crazy times ...

Always in such cases some workers go to other posts , some lose their jobs , the government will help the fired men , this is their hope , also I hoep they get some good money from the complany , one two monthly salaried as a relief , the article doesn\t say sth lke this , but I guess they might get sth for being fired like this , especially if they have worlked for NETENT for many years or even decade , I guess Malts must have some rules ..
Hopefully they will be helped , get some money , be relieved , have some good Christmas , the workers need it .
 CALICUL08/12/2020 19:29:43 GMT
I haven't read the whole material, but NetEnt must to offer some compensatory salaries for all people which he dismissed. I don't know how laws works in other countries, but it's logical to help these workers who will have for look elsewhere... ''in a pandemic'' situation.
 dule-vu09/12/2020 01:21:18 GMT
yes antonis,lot of workers lost their jobs,especially in last month or two and most of people that work with drinks,food and things like that!who know where is end of it and whole world wait now to see how vaccine will work on people,ofcourse first on people in britain!eyes of world economy will watch next days only in news from britain!
so if you can keep people at work,do it,dont just let them down and that they affraid for money for christmas and new year!
 geseco1209/12/2020 02:59:38 GMT
It is very sad to hear that, and even more so when they have to work to give the best to their family, and for these holidays they should have more work because it will demand money, well that's life sometimes we are fine at the moment, then comes the crisis We just have to keep going, to give the best to our families and thus have a nice Christmas happy and content, without worries.
 CALICUL09/12/2020 19:42:56 GMT
This is sad situation, of course and we must understand that... because main fault is ''Covid 19'', this non-dangerous coronavirus, was inflated by others with a pump, and that's why business of all kinds didn't go so well.
 bowie198416/12/2020 00:32:54 GMT
Posted by dule-vu:
Posted by bowie1984:
Posted by misteriopj:
It is unfortunate what happened with the employees of the company, we hope they can solve and do not spend a Christmas unemployed, all this motivated by this pandemic that continues, hopefully it ends and we start again

Dude, look around in the world. They were even lucky to be employed this long and most of them would have severance pay anyway. I really don't think these people need our pity.

I understand what you say,you probably mean how many people in world lost their jobs because of this corona situation and how long they dont work,especially in winter days and in countries where restraurants,cafes and similar things are closed,like in my country!
but still they could make some deal for this people,not that 300 of them lose their jobs!

The whole world economy is suffering because of this, I have no excess compassion for those who work in the gambling industry. That's all.
 dule-vu16/12/2020 20:50:36 GMT
but in this situation they have lot of money and they can pay this people,no matter will this do new owner or old one,both of this companies have lot of money to pay this people and that they work for them!that whole point,not like we need to have compassion for company!
but ofcourse I understand what you say!
 CALICUL16/12/2020 21:53:17 GMT
It doesn't matter how much money you have, because if you are a businessman who thinking only of profit... then don't care about your employees anymore, and make a decision that will leave them without a job. This case is the same and first priority is money.

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