Number of jobs 'at risk' at Island-based e-gaming company

DfE insists digital sector is still continuing to show strength

The Isle of Man's digital sector is continuing to show signs of strength according to the Department for Enterprise.

Manx Radio understands a significant number of jobs are at risk across Derivco's global network including in its Isle of Man office.

In a statement the company says: "To achieve its goals Derivco is considering a new operating model designed to better serve customers and create additional value.

"As part of this transition the company is contemplating a redundancy process that may result in job terminations.

"No final decisions have been made and we are currently consulting with our employees.

"Despite numerous efforts to address inefficiencies our current model does not fully support our objectives.

"We believe that a new operating model, aimed at modernising the business, will accelerate growth and innovation."

The Department for Enterprise says the news is 'unwelcome' but acknowledges the business must make 'strategic commercial decisions'.

In a statement a spokesperson said: "Through Digital Isle of Man the Department for Enterprise 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.

"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."

DfE insists the Island's digital sector is continuing to show signs of strength, with skills remaining in high-demand and a number of businesses showing 'promising' signs of growth.