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Online Casino News - Jobs Cuts At Swedish Poker Site

Jobs Cuts At Swedish Poker Site

by Maria Oliveira, News Staff Writer

September 26, 2007

It’s a bad day for employees of the 24HourPoker online casino, who discovered recently that their jobs could be in jeopardy. The popular online gambling hub, which has drawn scrutiny lately from the Swedish Gambling Board as part of its ongoing investigations into the world of internet casinos, announced that it would be reorganizing its business model to cut costs. 24HourPoker is hoping to save some SEK six million a year by making the company more efficient – which, unfortunately, means cutting loose an untold number of its employees. Obviously, it’s sad news when any business –not just online casinos- must necessarily shed employees, but at least one corporate bigwig with 24HourPoker is trying to keep the matter in perspective.

Company CEO Peter Anstrom released a press statement candidly admitting that the 24HourPoker online casino has not been profitable lately, and that restructuring the organization of the online gambling venture was one way to turn that trend around. Anstrom declared that eliminating workers is “never easy” to do, but that the personnel cuts would be necessary if the internet casino was ever to get back on its feet and start making money. A full SEK one-point-five million of 24HourPoker’s planned SEK six million savings will come from the salaries of those employees being terminated.

The realm of online casinos is a competitive one, and 24HourPoker is certainly not the first internet casino to have to come to terms with cutbacks in such a heartbreaking and staggering fashion. Obviously, the online casino execs with 24HourPoker are hoping that streamlining the company’s business model and cutting back on expendable costs –like extra personnel- will give the business the boost it needs to get its numbers back in the black, and out of financial trouble.



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