Paddy Power Betfair to cut 650 back office jobs

Newly merged bookmaker Paddy Power Betfair is planning to axe 650 back office jobs in the UK and Ireland.

Having completed the merger in February and been left with a 7,500-strong workforce, the enlarged company is looking to make 350 cuts in England and 300 in Ireland to extract £50m of savings.

Paddy Power's office in the Clonskeagh, Dublin will become the new Irish headquarters, with Betfair's head office in Hammersmith becoming the UK base as its Stevenage office closes.

The changes are expected to take place over the next nine to 12 months, according to reports, with overlapping roles likely to be in legal, finance, technology and human resources departments.