JOB CUTS COMING AT 24HPOKER?

28 September 2007

Swedish poker software provider restructures


Starting the new week off on a negative note comes news from Swedish poker software provider 24hPoker that it is restructuring to cut costs....and that will mean job losses.

The company, which has been the focus of some unwelcome attention from the Swedish Gaming Board in recent weeks (see previous InfoPowa reports) hopes to cut costs by up to Kronor 6 million a year through its reorganisation. Ominously, the company says that it will be making provision of SEK 1.5 million in the third quarter for personnel retrenchments.

With commendable candour, CEO Peter Anstrom writes in a statement today: "24hPoker has not been profitable and we have therefore decided to reorganise and make the organisation more efficient to take control over our costs. To realize personnel cuts is never pleasant to do, but cost control is one of the four cornerstones we build our strategy on. This is one step in the process of turning the company back into profitability."

Online Casino News courtesy of InfoPowa