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State gambling firm Veikkaus looks to shed 240 jobs

The firm's restructuring talks will involve all 825 employees.

Photo shows a Veikkaus logo on a casino glass door.
Veikkaus said the move is due to planned changes to Finland's gambling sector. File photo. Image: Silja Viitala / Yle
Yle News

Finnish state-owned gambling monopoly Veikkaus has announced the beginning of restructuring negotiations with the aim of trimming its staff by up to 240 workers.

In a statement issued on Tuesday, the company said that the terms and conditions of employment for a further 195 people will see "significant changes".

It said the talks will affect all 825 of its employees.

The move comes amid planned changes to the gambling sector announced by Finland's new right-wing coalition in its government programme.

The government wants to reform the gambling system and open it up to competition via the introduction of a licencing model, set to come into effect by January 2026.

"The aim of the reform is to prevent and reduce economic, social and health-related harm resulting from gambling and to improve the channelling rate of the gambling system," the programme states.

In a press release, Veikkaus said it aims to separate its digital gambling business from its lottery and physical slot machine business.

"We want to be competitive in the future licensing market and vibrant in the monopoly market. Therefore, we need changes in our operations that apply to the whole company," CEO Olli Sarekoski wrote in the release.

Veikkaus is also planning to reduce the number of its venues across the country from 65 to around 40-50, with negotiations currently under way which may result in the closure of its casino in Tampere.

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