Derivco planning to reduce the number of roles in IOM office

DfE confirms eGaming company is restructuring its business operations

The Department for Enterprise has confirmed eGaming company Derivco is planning to reduce the number of roles in the Isle of Man office.

It's not yet known how many jobs here will be affected.

Derivco's said to have initiated a 'restructure of its business operations' as part of a broader global effort to streamline its activities.

Last year, the company carried out another redundancy process, which put a number of jobs at risk.

At the time, a spokesperson for the company said: "Despite numerous efforts to address inefficiencies our current model does not fully support our objectives.

"We believe that a new operating model, aimed at modernising the business, will accelerate growth and innovation."

DfE says, while decisions that result in job losses are never welcome, it acknowledges it's a group-wide commercial decision affecting multiple jurisdictions.

It says Derivco remains a 'significant employer' here, and Digital Isle of Man is committed to supporting individuals affected during this transition.

DfE insists the Island's digital sector continues to show strength, with demand for digital skills remaining high across many areas of the economy.

It hopes that means anyone impacted will be able to find alternative employment elsewhere on the Island.