A software development company, that is known for its work in the online gaming industry, is believed to have cut around 70 jobs at its Isle of Man office.
Derivco, a software development company specialising in gaming solutions, plans reduce its workforce in the Isle of Man as part of an ongoing restructuring effort.
Sources say that redundancy announcements were made last week ranging from apprentices to higher levels.
Job Cuts
Frank Schuengel has reported in the Asia Gaming Brief, that Derivco informed employees of the planned redundancies on June 10, 2025, with a 30-day consultation period now in effect.
Derivco employs around 140 people at its Douglas office, Franks reports that the company made “the decision follows a thorough review of its operating model to ensure long-term sustainability and competitiveness in a challenging global market”.
While the exact number of roles to be cut remains unknown, sources told Frank that up to “half of local staff on the island might face redundancy”.
It is reported that jobs have also been cut in its offices in South Africa.
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