Veikkaus to axe up to 240 workers

The state-owned gambling company Veikkaus on Tuesday announced the beginning of co-determination talks with the view to cut jobs of up to 240 employees, said Veikkaus in a press release.

The company will also bring changes to the terms and conditions of the employment for 195 more people and the negotiations will affect all of its 825 employees.

The company took the move following the proposed changes to the gambling sector announced by the Kansallinen Kokoomus (National Coalition Party-NCP) led four-party alliance government.

The changes will allow competitive gambling business through introducing a licencing model by January 2026.

As per the plan, Veikkaus will transfer its online gambling business to the international licensed gaming market.

The lottery and physical slot machines, however, will remain under Veikkaus' monopoly operation.

“We want to be competitive in the future license market and dynamic in the monopoly market. That's why we need changes in our operations that affect the entire company,” the Chief Executive Officer of Veikkaus, Olli Sarekoski told in the press release.

The company is also planning to reduce the number of its gambling places from the existing 60 to in between 40 and 50 and the negotiations may lead closure of the casino in Tampere.

Earlier in October 2021, Veikkaus cut jobs of up to 190 employees.