The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities 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
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67621.
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