Online Gaming co 888 to lay off 100 in Herzliya
Online gaming company 888 Holding plc (LSE:888) is firing 20% of its global workforce, due to what it called "economic challenges facing the company and restructuring". The company that it has 975 employees worldwide.
888's R&D center in Herzliya has about 500 employees, implying that 100 Israeli employees will be let go.
888 said that it is compelled to streamline, and that the measures include layoffs. It declined to specify how many employees will be fired.
In a separate development 888 B2B division, Dragonfish, yesterday launched a new standalone bingo network, Bingo Hollywood.
888's share price fell 1% in London today to ₤0.976, giving a market cap of ₤338 million. The share price has fallen over 11% since the beginning of the year.
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