The GWU said NetEnt had planned to make approximately 300 redundancies in Malta, following its acquisition by Evolution last month.
The job losses were part of a cost-cutting efforts to save €30m (£27.0m/$36.7m).
However, the GWU last week declared an industrial dispute with NetEnt and Evolution, claiming the businesses failed to acknowledge the country’s largest trade union as an employee representative for planned layoffs.
Malta’s Superior Court issued an injunction against NetEnt, blocking the supplier from making layoffs until a hearing earlier today (17 December).
The GWU has now reached an agreement with Evolution whereby the supplier will offer alternative employment to at least 40 employees within the coming weeks. A further 60 employees are also expected to be absorbed by gaming and financial services operators in Malta.
The settlement also includes an improved severance package for staff who will be made redundant, with each affected employee to now receive an additional payment of €750.
Other benefits set out under the agreement include better safeguards for staff currently on maternity leave and the availability of Evolution’s health benefit package to affected employees.
GWU members impacted by the redundancies overwhelmingly approved the revised severance offer.
“We negotiated intensely and with determination; we saved jobs to the extent that this was possible,” GWU secretary general Josef Bugeja said. “We ensured that all those who are being let go are suitably compensated.”
As a result of the agreement, the GWU had the injunction withdrawn.