Finland’s Veikkaus gambling monopoly cutting 400 jobs

Finland’s Veikkaus gambling monopoly plans significant payroll cutbacks along with the demise of its restaurant gambling division.

On Monday, Veikkaus announced plans to trim its payroll by around 400 positions and said it had commenced discussions with around 1,300 of its 2,000 staffers to identify likely candidates for redundancy. Most of the affected staff are said to be located in the Helsinki area.

Veikkaus CEO Olli Sarekoski said the Finnish gambling market had undergone “structural changes” in recent years as more and more consumers shift their gambling activity online. Around 45% of Veikkaus’ sales now come from its digital channels.

As a result, Sarekoski said Veikkaus was “planning significant overhauls of our gaming locations and an end to the restaurant gaming table business.” The restaurant division currently consists of 187 tables in 162 restaurants and bars across Finland.