Stan James launches trader redundancy round
Sportsbook operator places 11 roles at risk as it increases use of trading-related technology
Stan James has placed 10% of its trading team at risk of redundancy as the operator attempts to keep pace with an “increasingly competitive online betting industry”, eGaming Review has learned.
As many as 11 Gibraltar-based sportsbook traders could be set to leave the firm as part of a programme designed to improve the scale of Stan James’ pre-event and in-running markets.
According to the firm, the programme has seen a greater emphasis placed on “state of the art technology” with the move resulting in the need to restructure parts of its trading operation.
The affected employees were notified of their potential redundancy earlier this month with the news kick-starting a 60-day consultation process.
“The programme is designed to ensure that our sportsbook product remains at the forefront of an increasingly competitive online betting industry, while giving our traders the best trading tools and data available in the market,” a Stan James spokesperson said.
“As part of this programme, we have restructured some parts of our trading function. The restructure has meant that 11 sportsbook traders have been put at risk of redundancy and a 60-day consultation process has started.”
The spokesperson added that it didn’t expect all 11 employees to leave the firm with the UK-facing operator prepared to offer a number of alternative roles throughout the consultation process.
Stan James currently employs a diverse range of trading solutions which include propriety and third-party trading tools and technology and trading data generated both in-house and through third-parties such as Betradar.