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 65.1 - Insurance
285 jobs Number of planned job losses
Announcement Date
15 November 2012
Employment effect (start)
Foreseen end date
Description
Liberty Insurance, the American company which took over Quinn Insurance, plans to make 285 staff redundant, RTÉ News has reported. Job losses will be implemented in Blanchardstown Dublin (140), Cavan town (75) and Enniskillen (70). 900 were previously made redundant in 2010, when Quinn Insurance was under administration. It was then taken over by US group Liberty in 2011.
It is understood that Liberty has informed staff that the restructuring is required to secure the future of the firm. The redundancies are voluntary at this stage but the organization has not ruled out compulsory job losses.
Sources
16 November 2012: RTE news
Citation
Eurofound (2012), Liberty Insurance, Merger/Acquisition in Ireland, factsheet number 74556, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74556.
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