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
108 jobs Number of planned job losses
Announcement Date
1 December 2009
Employment effect (start)
Foreseen end date
Description
Financial services company Lombard Ireland has announced 108 redundancies jobs following a review of its operations. Eighty-four of the job losses are to occur in the Republic of Ireland, while 24 are in Northern Ireland. Lombard is owned by Royal Bank of Scotland and provides lending for a range of assets from cars to factory equipment. Issuing a statement, the company says it will now provide financing directly to businesses in the Irish market and will no longer operate through broker networks. On a brighter note, it hopes to offset the job losses by creating 17 new posts, adding that some staff affected could be redeployed.
Sources
1 December 2009: RTE
Citation
Eurofound (2009), Lombard Ireland, Internal restructuring in European Union, factsheet number 69985, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69985.
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