Microsoft isn’t the only company finding itself compelled to move forward with cost cutting measures this week. One of online gambling’s biggest names is feeling the same pain.
Reuters is reporting that online gambling company Bwin.Party, is “under pressure” to cut costs.
“Bwin said last month it was looking at ways of boosting shareholder value but denied a report it was considering a break-up or sale of its business,” the report notes.
However, this week, a trading statement noted that bwin’s poker and casino business has become “soft.” Consequently, cuts are expected.
“We are taking steps to improve operating performance, simplify decision-making, reduce complexity and costs and, as a result, remain confident about the full-year outlook,” the company’s Chief Executive Norbert Teufelberger is quoted.
Although it remains to be seen as to where the cuts will fall, one thing is for certain — cuts are coming.
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