FBD Insurance

Type
Internal restructuring
Country
Ireland
Region
Ireland;
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
150 jobs
Number of planned job losses
Job loss
Announcement Date
2 December 2008
Employment effect (start)
Foreseen end date

Description

FBD Insurance has announced 150 voluntary redundancies and the closure of 15 branches country-wide. It is understood the decision was prompted by market changes - notably, the fact that more motorists are now purchasing insurance either on the internet or over the phone. The company estimates that approximately 70 per cent of its motor insurance premiums are now purchased on its website or through its call centre. The restructuring will reduce the workforce from 950 to 800.

Sources

  • 3 December 2008: The Irish Times

Citation

Eurofound (2008), FBD Insurance, Internal restructuring in Ireland, factsheet number 67621, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67621.