Netller, the online payment processing company, plans to cut 250 jobs, mainly in Calgary, Canada, due to its departure from the U.S. market.
Neteller withdrew from the American market following the arrests of two of Neteller's founders and top executives last month and charged them with handling billions of dollars in illegal gambling proceeds.
Since then there has been a mass withdrawal of online gambling companies from the U.S., which caused a dramatic loss of income to Neteller and other companies, which handle payments to online gambling sites as a major source of revenue.
A Neteller spokesman said the job losses are a direct result of the recent changes in U.S. online gambling laws.
Around 220 jobs will be cut at the company's center in Calgary and another 30 jobs will be cut in Britain in March, when Neteller operations move from Gatwick to Cambridge.
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