Svenska Spel Sport & Casino Ab announces major restructuring plan

Swedish gambling giant Svenska Spel Sport & Casino Ab has announced a major restructuring plan that will see the company lay off 120 of its 1,900 employees.

The restructuring plan is part of a broader effort by Svenska Spel to cut costs and improve profitability.

The company has been facing increasing competition from online gambling operators, and its profits have been declining in recent years.

Svenska Spel's restructuring plan includes a number of measures, including:

• Laying off 120 employees
• Closing down some of its physical gambling outlets
• Investing in new online gambling products and services

Svenska Spel's CEO, Lennart Käll, said that the restructuring plan is necessary to ensure the company's long-term viability.

"The gambling market is changing rapidly, and we need to adapt to these changes in order to remain competitive," Käll said.

Svenska Spel's restructuring plan has been met with mixed reactions from employees and unions.

The Swedish Trade Union Confederation (LO) has criticized the plan, saying that it will lead to job losses and a decline in the quality of Svenska Spel's services.

However, Svenska Spel has defended the plan, saying that it is necessary to ensure the company's long-term viability.

Svenska Spel is a state-owned gambling company that operates in Sweden.

The company offers a range of gambling products and services, including sports betting, casino games, and online gambling.

Svenska Spel is one of the largest gambling companies in Sweden, and it has a market share of around 50%.

The company is facing increasing competition from online gambling operators, and its profits have been declining in recent years.

Svenska Spel's restructuring plan is part of a broader effort to cut costs and improve profitability.