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 Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
65 jobs Number of planned job losses
Announcement Date
6 October 2009
Employment effect (start)
6 September 2009
Foreseen end date
Description
GE Money announced 6 October that it plans to eliminate approximately 65 jobs in Shannon (50) and Dublin (15). The company blamed lower anticipated activity levels, reducing portfolios, and decreasing workloads. GE stated that it hopes to redeploy as many workers as possible in other vacancies, which might be created in the coming consultation. Staff have also been told that they will receive a redundancy package that will be generous by industry standards.
Sources
7 October 2009: The Irish Times
Citation
Eurofound (2009), GE Money, Internal restructuring in Ireland, factsheet number 69692, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69692.
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