HUNDREDS of jobs are being culled in a “devastating” move by betting shop giant Ladbrokes.

The high street bookmaker announced it is closing its Aintree call centre and losing 263 Liverpool jobs.

It claimed profits are being plundered by foreign-based betting outfits undercutting their operation.

Workers were told of the closure at a meeting yesterday and were sent home from their shift five hours early.

Bosses said they were starting a 90-day consultation on the plans and would try to redeploy people to avoid mass redundancies.

The betting shop’s core telephone business was loss-making at the half-year stage this year, recording a 41% drop in revenues. Call revenues were also down a stinging 73% in the last quarter amid tough trading.

In a statement, the company said: “UK-based telephone betting operators like Ladbrokes are being severely impacted by competition from offshore operators that enjoy significant tax advantages.

“Ladbrokes’ telephone betting service pays 15% tax on its gross profits and a further 10% on profits from UK horse racing, as well as VAT and corporation tax.

“Offshore operators typically pay no or very low taxes and no horse racing levy.”

In August, the firm transferred Labrokes.com to Gibraltar, a British territory and tax haven.

Company spokesman Ciaran O’Brien added: “Telephone betting is a very competitive market and one that is becoming increasingly difficult for UK-based operators.”