William Hill Lays Off Half Its Workforce
William Hill has laid off more than half of its 1000 plus US workforce in the midst of the coronavirus pandemic. The changes are intended to be temporary with Hill expecting to bring back most of the employees once sports resume.
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In addition to its mobile operations in a limited number of states, William Hill runs approximately 100 betting shops and sportsbooks in the state of Nevada. These were ordered shut down by that state's Governor.
Nearly all sporting events worldwide have been cancelled for at least the next few weeks.
The news comes as Hill witnessed an upward shift with its stock price on Monday 23 March. Non-exec director Gordon Wilson bought 25,000 shares at 39p for a layout of £9,699.50 and chief executive Ulrik Bengtsson invested £5,814 in 15,000 shares at the same price.
William Hill’s shares ended Tuesday 36.6% higher and were up another 18% to 65.5p as of early afternoon on Wednesday 25 March.
The operator’s UK parent company has seen its share price drop by 65% however since mid-February.
- Aaron Goldstein, Gambling911.com
