LiveScore Group, a sports media specialist, is planning to cut over 100 jobs across several offices, including in London.
This decision is part of an internal restructuring process aimed at improving operational efficiency and ensuring the company’s long-term sustainable growth. Employees affected by the changes have been notified and are undergoing confidential consultations.
“On behalf of all directors of LiveScore Group, and the relevant subsidiary companies, we are saddened by the difficult decision to commence an internal restructure of the business, a process which impacts a significant number of our people,” said LiveScore CEO Sam Sadi.
“Whilst we celebrate our recent period of significant and exciting growth, we must now future-proof the organization and ensure our internal structures allow us to achieve long-term and sustainable success.
“This is a hard time for all our people, as we say goodbye to colleagues who have played an important role in our journey across recent years,” Sadi added.
Exit from the Netherlands
The company’s restructuring follows last year’s announcement that LiveScore Malta Limited, a subsidiary of the group, would be withdrawing its LiveScore Bet brand from the Netherlands.
This decision comes in response to planned tax increases, with rates set to rise by nearly a quarter, from 30.5% to 37.8% of gross revenue. Sam Sadi stated that pulling LiveScore Bet from the Netherlands was a “difficult decision.”
“Unfortunately, the planned tax increase means that this market is no longer viable commercially,” he added.
The layoffs will also affect employees associated with this exit.
Founded in 2019 as a spin-off from Gamesys Group, LiveScore Group is best known for its flagship sports media brand, LiveScore, a real-time sports data and streaming service.
The platform reaches over 50 million daily users across more than 200 countries.
Despite the restructuring, the company reassured that its platforms, LiveScore, LiveScore Bet, and Virgin Bet, will continue to operate as usual in all other markets.
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