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  • Full Tilt Poker Fires 180 Employees

    Wednesday, October 26th, 2011 by Ryan

The “good news” that came out after Full Tilt was purchased seems to continually come with some bad news as well, and this week was no different. It was recently shown that Full Tilt has decided to lay off 180 employees this past week, which just shows a continuation in downswings since Black Friday. Full Tilt’s offices are based out of Dublin, Ireland, and they have now cut 36% of their staff. Their current staff had about 500 before working in Dublin, and this number now continues to decline. This wasn’t completely out of the blue though, as the management at Full Tilt apparently told the employees that the layoffs were on the way.

The news has just been bad for Full Tilt before and after the purchase talks. They lost their gambling license from the Alderney Gambling Control Commission first after the charges of money laundering and bank fraud, and then saw three of their biggest players and board of directors have a civil complaint filed against them. Howard Lederer, Chris Ferguson, and Rafael Furst are pretty well known names, and now they have these charges surrounding them. The charges were essentially stating that the players and the company used the $440 million that were actually poker players’ funds, to pay towards these owners and the board of directors listed above.

The action doesn’t just stop there for Full Tilt though, as they have also been served with quite a few class action lawsuits as well. This all added up to a huge mess for Full Tilt Poker. And just went it seemed like the poker site wasn’t going to have any chance to make it’s way back from the grave, the Group Bernard Tapie offered to purchase Full Tilt, which made the potential re-opening of the site possible. This has left us where we are now though, with Full Tilt cutting these jobs and leaving their future completely up in the air. Before Black Friday, Full Tilt was peaking and had actually looked at adding an additional 100 jobs to the offices in Dublin, and was looking at a continuation in terms of expanding for many years to come.

It was said that Full Tilt told its employees that the reason why the layoffs were happening was from the loss of revenues over the past few months. It makes sense, and you could imagine that almost every online poker player who was using the poker site in the past is hoping that the site reopens and that they are able to get their money back from the site as well. One other thing that will be interesting to watch is how Full Tilt Poker does if the buyout happens and the online poker site. Many people are curious to see if the site will grow once again and get back to the top in terms of online poker traffic, because if the site can prove that it is honest and straight forward with it’s players; there is a good chance that many players will give the site another chance.

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