LiveScore Group to Lay Off 100+ People Part of Restructuring Plan

LiveScore Group, the 2019-established fully owned and operated ecosystem that is home to LiveScore, LiveScore Bet, and Virgin Bet, has announced it is ready to bid goodbye to over 100 employees in London and other business locations. 

The call follows an internal restructuring plan focused on better streamlining the group’s operations while securing sustainable growth in the long run. 

Customers of the remaining LiveScore, LiveScore Bet or Virgin Bet platforms available worldwide will not be further affected by the changes. 

“A Difficult Yet Important Step for LiveScore Group”

The organization that is “guided by its vision of Fuelling Fans’ Passion for Sport” regards the announced changes as “a difficult yet important step for LiveScore Group” meant to “create improved structures.” 

All employees that will be directly affected by the restructuring decision have already been notified. They are currently subject to a “confidential consultation process.”

The group’s chief executive officer, Sam Sadi, spoke on behalf of all directors and relevant subsidiary companies, stating they were “saddened by the difficult decision” to initiate the internal process that will impact “a significant number” of people.

“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.

The CEO further commented that while they still have reasons to celebrate their “recent period of significant and exciting growth,” they must also work on future-proofing the organization and making sure their internal structures will allow them to reach the desired results. 

Leaving the Netherlands

The restructuring aligns with LiveScore Group’s recent announcement that its subsidiary, LiveScore Malta Limited, will be withdrawing the LiveScore Bet brand from the Dutch market.

The decision comes in response to the Netherlands’ planned tax increase, which will see rates rise from 30.5% to 37.8% of gross revenue.

Explaining the reason behind the withdrawal, Sadi said: “Unfortunately, the planned tax increase means that this market is no longer viable commercially.”

The staff layoffs will also include employees who have already been affected by the company’s exit from the Netherlands.

The group which was created as a spin-off from Gamesys Group is highly popular for its flagship sports media brand, LiveScore. 

The real-time sports data provider and streaming service reaches more than 50 million users in 200+ global territories on a daily basis.