Massive jobs blow as Paddy Power are to cut up to 300 jobs in Dublin

A new business merger will see betting giants Paddy Power slash up to 300 jobs in Dublin over the next year as they make plans for one of the biggest bookmaking deals in history.

A  new €10 billion merger with UK company Betfair will see huge cuts to the staff numbers in Paddy Power's offices in both Ireland and England, with a total of 650 employees set to be let go in the coming months.

The cuts come from part of the deal that is aimed at delivering savings of €62 million a year. The areas that are likely to be affected are legal, finance and HR, as well as technology, and trading and risk according to the Irish Times.

There are around 600 Paddy Power betting shops in Ireland, however it is thought that none of those will be affected. Workers who will be let go will be given six weeks pay for each year they have worked for the company.