Euro Poker: 24hPoker To Cut Jobs

24hPoker, the Swedish gaming group which develops proprietary software systems for online gaming operations, today announced it is to carry out a reorganization that will result in cost-savings amounting to approximately SEK6 million (approximately $920,000). The third quarter of this financial year sees SEK1.5 million set aside for costs related to personnel cuts.

"24hPoker has not been profitable, and we have therefore decided to reorganize and make the organization more efficient to take control over our costs," said Peter Åström, CEO of 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," he said.

At the time of writing, shares in 24hPoker, which operates through subsidiaries 24hPoker AB and B2B Poker AB, were up 5.26 percent on the day but down 25.49 percent over the previous 52 weeks.

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