Stockholm-listed gaming operator Betsson has announced redundencies for up to 9 per cent of its workforce as a result of efforts to streamline the company's organisational structure.
The changes will be implemented this month and will see Betsson's total headcount reduce by approximately 160 employees.
"In cooperation with the operational management team, we have started to implement actions to improve operations," Betsson chief executive Pontus Lindwall said. "The restructured organisation will be more streamlined with clearer responsibilities, which I believe will improve its efficiency over time."
Lindwall first revealed plans to reshape the business in October following the publication of disappointing third quarter results.
The organisational changes are expected to deliver annual costs savings of between SEK50m and SEK60m, with the restructuring costs being recognised in the first quarter.
Shares in Betsson AB (STO:BETS-B) were trading down marginally at SEK65.00 per share in Stockholm Monday morning.