Evolution’s NetEnt acquisition redundancies no reflection of instability

Despite a high number of expected job losses reported from the Evolution Gaming acquisition of NetEnt this week, speaking to the Malta Business Weekly, Gaming Malta Foundation, Chief Operations Officer Ivan Filletti remains confident individuals affected will be reallocated positions within top gaming companies. “There are currently over 700 open vacancies within the Maltese islands. Many companies have reached out to us to match skills with those made redundant. Job causalities in the sector are related to mergers and take-overs, not Covid-19”. Filletti remarked the gaming situation in Malta is stable, and the country remains a desirable hotspot for gaming companies from across the world.

Additional sources within the industry echoed his sentiments, “The presence of Evolution Gaming on the islands is a strong testament to our success, they remain one of the world’s top players”

The Ministry for Economy and Industry is also in discussions to identify alternative jobs for employees that could be affected by the restructuring process of Evolution Gaming, along with the Gaming Malta Foundation and JobsPlus. It has been reported this week that hundreds of jobs at NetEnt could be cut due to it being acquired by Evolution Gaming.

“The Government notes the investment by Evolution Gaming in the acquisition of NetEnt. The organisational restructuring currently being undertaken by Evolution Gaming following its acquisition of NetEnt led to the closure of some business lines in Malta and elsewhere.”

“Whilst noting the strong commitment by Evolution Gaming to its Malta operation, the Government, through the Ministry for the Economy and Industry, has immediately started discussions with the relevant entities to facilitate the smooth transition of employees who may be at risk of being laid off as a result of this restructuring. Employees who are laid off with immediate effect may register for employment through the Jobsplus dedicated portal: https://jobsplus.gov.mt.  A dedicated helpline has also been set up on 22201251 to assist affected persons. “

Further arrangements have also been created for JobsPlus to offer a purposely set-up job matchmaking support service to the affected persons. JobsPlus officials are in touch with the company management to coordinate this service directly.