800 PartyGaming jobs lost
Around 800 employees of Ivy Comptech, which is a subsidiary of PartyGaming located in India lost their jobs as PartyGaming re-structure they business to adapt to the changes in the Gambling market sence the Unlawful Internet Gambling Enforcement Act in America.
This move is similar to the lay off of over 100 employees by a 888 Holdings subsidiary call Random-Logic.An Ivy Comptech spokesperson said: "The company has to rightsize and adapt its operations in order to go forward in the best shape in the current business scenario. Over 50 percent of the employees have been told to leave with a financial package."PartyGaming has already lost to $250 million since exiting the US market due to the UIGEA.
This move is similar to the lay off of over 100 employees by a 888 Holdings subsidiary call Random-Logic.An Ivy Comptech spokesperson said: "The company has to rightsize and adapt its operations in order to go forward in the best shape in the current business scenario. Over 50 percent of the employees have been told to leave with a financial package."PartyGaming has already lost to $250 million since exiting the US market due to the UIGEA.
posted by Glenn at Saturday, November 04, 2006
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