An international e-gaming software firm with an office in the Isle of Man has warned of possible job losses.
Derivco Isle of Man said it is looking to restructure its global operations and as part of this is consulting with staff over potential redundancies, including those based at its offices next door to Microgaming on Circular Road, Douglas.
The firm, which provides e-gaming and software development services and products to the sports betting industry through Microgaming, has offices in Austalia, Malta, South Africa, Spain, Sweden and the USA as well as the Isle of Man and Ipswich in Suffolk.
It had been operating in the island for more than a decade, beginning here in 2012 initially with 50 IT engineers and support staff but now employs more than 200.
Derivco says it is considering a new operating model, aimed at modernising the business, which it believes will ‘accelerate growth and innovation’. It said as part of this transition, the company was looking at carrying out a redundancy process that may result in jobs being lost.
Derivco insisted that no final decisions have been made.
The Department for Enterprise said the island’s digital sector continued to show signs of strength.
A spokesperson said: ‘Through Digital Isle of Man, the DfE maintains regular dialogue with businesses operating in the digital sector.
‘Whilst it is not able to comment on specifics, it understands that Derivco are currently considering a transition to a new operating model to better serve customers and accelerate growth and innovation, and has been informed that these potential changes may pose a risk of job displacement across their global network, which could impact the Isle of Man office.
‘While any decision or outcome which results in job losses would invariably be unwelcome, the department acknowledges that the business must make strategic commercial decisions to adapt their operations, and will continue to support Derivco and its staff members.’
It added: ‘The island’s digital sector continues to show signs of strength across a number of areas, with skills remaining in high demand and a number of businesses showing promising signs of growth.’