The Stars Group has announced it will be cutting staff at its Isle of Man office, citing operational difficulties that its Pokerstars brand has faced in international markets.
The group has not confirmed the number of people to be made redundant but it is believed the company currently employs around 400 members of staff on the island.
The Stars Group said the cuts are a component of its overall plans to deliver on its mid-term growth targets and said the lay-offs will have a little foreseeable impact on overall operations in the Isle of Man.
“As we’ve previously noted, our International segment (PokerStars) has faced many headwinds over the last year, including disruptions in some of our key markets,” the group said.
“As a result, we are pursuing operational initiatives, including cost-optimization opportunities, as we’ve done in the past, to reassess our fixed cost base and realign our costs with our global growth strategy.”