Paddy Power cuts 1,400 jobs and blames betting tax rises
Flutter, the parent company of Paddy Power, is cutting 1,400 jobs following a significant increase in gambling taxes. The company argues that the tax hike has made its current economic model unsustainable in the UK and Ireland.
Why it matters
This highlights the tension between government tax policy and corporate operational viability in the gambling sector.
Image source, Getty Images Published 20 October 2026, 12:47 BST Updated 4 minutes ago Paddy Power-owner Flutter has announced plans to cut up to 1,400 jobs as its boss claimed the company "cannot fully absorb" tax rises imposed on the gambling industry last year.
Staff based in the UK and Ireland, as well as British and Irish workers at Flutter's sites in Portugal and Romania will be affected, but what roles are at risk has not been disclosed.
The government increased taxes on online casino and sports betting, with an exemption for horse racing, in the Budget last November.
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