AS MANY AS 250 jobs could be lost at an IT company in Dublin, it has emerged.

Pocket Kings, which provides technology and marketing services to the online poker giant Full Tilt Poker, has said it needs  to reduce costs by as much as €12 million and may seek these savings through redundancies.

The company employs 700 people at its offices in Cherrywood in Dublin.

In a statement, carried on PokerStrategy.com, the company said:

If all of the required cost savings were to be achieved through redundancies, approximately 250 positions could be affected; however the exact number cannot be confirmed until the conclusion of a consultation process with its workforce.

In April, authorities in the US shut down Full Tilt Poker’s website there, where online gambling is illegal, and charged CEO Raymond Bitar with illegal gambling, money laundering and bank fraud.

In June, Full Tilt Poker’s licence was suspended and its operations temporarily halted. However, a group of European investors later stepped in to buy the firm, it was reported in July.

The company added that the latest cost-cutting measures are aimed at improving the possibilities for growth and profitability in markets outside the United States.