|Swedish poker software provider 24hPoker has announced that it is restructuring to cut costs in a move that will mean job losses.|
The company has been the focus of some unwelcome attention from the Swedish Gaming Board in recent weeks and said that it hopes to cut costs by up to $922,000 a year through the reorganisation. The company also stated that it would be setting aside $230,500 in the third quarter for personnel retrenchments.
'24hPoker has not been profitable and we have, therefore, decided to reorganise and make the organisation more efficient to take control over our costs,” said Peter Anstrom, Chief Executive Officer for 24hPoker.
“To realize personnel cuts is never pleasant to do, but cost control is one of the four cornerstones we build our strategy on. This is one step in the process of turning the company back into profitability.'