etruvian co-founder, Dominik Kofert

Just two and half weeks after selling off to Playtech, etruvian Holdings is handing out pink slips to most of its executive staff. The layoffs are, according to EGR Magazine, the work of etruvian co-founder, Enrique Guzman.

Guzman recently bought out etruvian co-founder (and founder) Dominik Kofert’s share of the business. Kofert left his position at to help run etruvian but had a different vision for the company than Guzman.

Once he’d assumed control of the company, Guzman took an axe to personnel costs, especially in the executive suites. EGR is reporting that some employees were given the choice of a layoff, or a hefty cut in pay.

The newly released employees include:

  • Lutz Enke, Chief Strategy Officer
  • Damon Barnard, General Counsel
  • Nicola Valarino, HR Business Partner
  • Joannah Barnard, Chief Financial Officer
  • Matthew Primeaux, Chief Revenue Officer

In an interview with EGR, Kofert praised Guzman saying:

Enrique has big plans for etruvian, which I clearly believe has big opportunities otherwise I would not have co-founded it. I believe it is a very strong business with a bright future ahead.

There’s no word yet on any replacements for the departing etruvian executives.

What do you think about the shakeup at etruvian? Share your thoughts in the comments section below.

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