Up to forty Gibraltarians employed by online gambling group 888.com could lose their jobs as the company commences the consultative process that is part of redundancy proceedings for certain staff this week.

Tough economic conditions have been blamed for the need to cut back and start the 60 day consultative period, the Gibraltar Chronicle reports.

In answer to Chronicle questions a 888.com spokesman said: “As a result of the unprecedented recessionary environment since September 2008 and foreign exchange volatility 888 was forced, reluctantly, to take defensive actions and reduce its cost base, including [initiating the] redundancy process. 888 remains committed to its customers, employees and business partners as ever and remains a major employer in Gibraltar.

“We are talking around 40 employees. It is ‘up to’ and we have 60 days of consultation period that might change the numbers.”

PartyGaming cut staff in Gibraltar late last year.

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