Flutter to cut more than 1,000 jobs after UK gambling tax raid

Flutter Group, the company behind Paddy Power, is set to cut over 1,000 jobs, around 15% of its UK and Irish workforce, due to increased gambling taxes in the UK. The decision reflects how higher taxes are impacting the company's operational costs and profitability. This move underscores the broader implications for the gambling industry, as companies face stricter financial pressures that could lead to further restructuring or changes in strategy. It's a significant development highlighting the tax burden's effect on business operations.