“Globes”, an Israeli business publication, reported earlier this week that software developer Random Logic, a subsidiary of 888.com, plans to layoff 29 employees from its Israeli-based research and development center. The layoff represents approximately seven percent of Random Logic’s workforce and are a due to the latest U.S. online gambling legislation which has seriously impacted the company’s activity in that country. Random-Logic, which is based in Tel Aviv and registered as an Israeli company, currently employs 435 people.

According to the Globes report, 888 Holding will also be cutting down its 150-person workforce in Antigua. Most of the employees targeted for dismissal are primarily call-center and technical support staff that work directly with the U.S. market.

Additionally, 888 Holding’s company headquarters in Gibraltar has also begun the process of downsizing, although the number of employees to be laid off has not yet been determined because of labor laws there which mandate a 60-day advance notice prior to dismissal. There are currently 350 888 Holding employees in Gibraltar.

Globes quoted an 888 Holding company spokesperson as saying: “In light of the change in legislation in the US and the cessation of the company’s activity in that country, and after reviewing current expenses, 888 is making general structural and workforce changes. Some elements of the workforce which worked directly with the US market has been integrated into international departments.”

Posted on: October 31, 2006

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