GE Money

Type
Internal restructuring
Country
Ireland
Region
Ireland;
Location of affected unit(s)
Shannon, Dublin
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
65 jobs
Number of planned job losses
Job loss
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://apps.eurofound.europa.eu/restructuring-events/detail/69692.