888 Initiates Substantial Workforce Reduction in Israel

888, a prominent sports betting and online casino operator, has implemented significant layoffs, affecting dozens of employees in Israel as part of a broader restructuring effort. A company spokesperson has assured affected employees that financial support will be provided during this challenging transition.

With approximately 11,000 employees across its global branches, 888 has been undergoing organizational changes. This recent round of layoffs follows a similar occurrence in Israel in January 2023. The operator's financial landscape underwent complications after its acquisition of rival William Hill for £2.2 billion in 2021, leading to a series of workforce reductions to address evolving business dynamics.

Founded in 1997 by brothers Avi and Aaron Shaked and brothers Shay and Ron Ben-Itzhak, 888 became the third most popular online casino operator worldwide by 2016. According to Forbes magazine, Avi Shaked is recognized as one of the richest businessmen in Israel, ranking among the country's top 50 entrepreneurs.