Paddy Power Betfair says it's cutting 650 jobs across the UK and Ireland.
The newly formed bookmaking giant - which has eight betting shops in Northern Ireland - has revealed that two months on from the creation of the massive betting business, staff in offices across the UK and Ireland were being told of the redundancies.
Paddy Power runs 336 shops in the UK and 252 stores in Ireland, while Betfair runs an online betting exchange.
But it has said that Northern Ireland jobs will not be affected.
Bookmaking shops will not be included, but jobs are expected go in the legal, human resources, finance, technology and trading divisions.
It is understood 350 jobs will go from the UK operations and about 300 from the Irish end of the business.
Two main offices will be created by the company - in Clonskeagh, Dublin, where 'Power Tower' has been based for a number of years, and in a second centre in Hammersmith, London.
Paddy Power Betfair was created when a £5bn merger was finalised in February.