According to a report from panorama.gi, Gibraltar's online gambling sector hasn't been immune from the economic troubles plaguing the globe.

The industry is on a "downward trend" said the panorama.gi and the trend will cost jobs.

"Total number of employees between October 2007 and August 2008 was static, but figures for last month shows a reduction from 1803 to 1699 during this period," the panorama said.

Most troubling is that the bigger companies on Gibraltar have been cutting down on their workforces as well.

PartyGaming downsized from 317 to 227 emmployees last August, Mansion employee numbers decreased from 149 to 93 last month, Victor Chandler saw cuts from 307 to 262 last year and 32Red dramatically cut down the number of workers last month from 117 to 45.