Derivco, a software development company specializing in gaming solutions, has confirmed plans to reduce its workforce in both its Isle of Man and South African offices as part of an ongoing restructuring effort.
The company, known for its work in the online gaming industry, is offering voluntary retrenchment packages to staff, with the process already underway in multiple locations.
In the Isle of Man, Derivco informed employees of the planned redundancies on June 10th, 2025, with a 30-day consultation period now in effect. The company, which employs around 140 people at its Douglas office, stated that the decision follows a thorough review of its operating model to ensure long-term sustainability and competitiveness in a challenging global market.
While the exact number of roles to be cut remains undisclosed, sources tell AGBrief that up to half of local staff on the island might face redundancy. Derivco also emphasized its commitment to supporting affected employees through the transition, including exploring redeployment opportunities where possible.
Simultaneously, Derivco’s South African operations, which employ approximately 2,000 staff across offices in Pretoria, Cape Town, and Durban, are also facing significant layoffs. The company has offered voluntary retrenchment packages with a tight deadline for applications, set for June 13th, 2025.
This follows a previous round of job cuts in February 2025, signaling ongoing efforts to streamline operations. The restructuring follows a recent change in leadership a few months ago, when Derivco announced that Quraish Behari would step down as CEO and be succeeded by Andrew Slabbert.
Derivco’s global workforce, spanning additional offices in the UK, Sweden, Spain, Malta, Australia, Hong Kong, and the U.S., underscores its prominence in the gaming software industry. However, the company faces mounting pressure from a tough economic climate, prompting these cost-cutting measures.
As the consultation and retrenchment processes unfold, Derivco has pledged to handle the redundancies with transparency and fairness, aiming to balance operational efficiency with support for its employees.
