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02/12/2008
Hundreds Of Jobs Go As Credit Crunch Tightens
A total of 300 jobs have been axed today as two companies slashed their workforce, despite it being the run up to Christmas.
Insurance giant FBD cut around 150 staff and is closing offices across the country claiming customer service staff were no longer needed, as people were now booking policies using the Internet.
Meanwhile, an international diamonds company, Element Six, is also cutting staff. The company said they needed to reduce costs because of the global economic downturn.
Union representatives have expressed outrage over the decisions coming so close to Christmas and are expected to hold talks with management at both firms.
FBD, which has 953 full-time staff members, claimed it expected the job cuts would be made through voluntary redundancies.
Andrew Langford, FBD Chief Executive, said the company would enter talks with staff and unions immediately.
In September, FBD Insurance launched its interactive next generation website, automating the purchasing of its insurance policies online.
Element Six, based in Shannon, is to slash around 150 jobs by the end of the year as part of a global group-wide cost saving programme.
The company, which employs 620 people, manufactures and distributes industrial diamonds and super-hard materials.
(DW)
Insurance giant FBD cut around 150 staff and is closing offices across the country claiming customer service staff were no longer needed, as people were now booking policies using the Internet.
Meanwhile, an international diamonds company, Element Six, is also cutting staff. The company said they needed to reduce costs because of the global economic downturn.
Union representatives have expressed outrage over the decisions coming so close to Christmas and are expected to hold talks with management at both firms.
FBD, which has 953 full-time staff members, claimed it expected the job cuts would be made through voluntary redundancies.
Andrew Langford, FBD Chief Executive, said the company would enter talks with staff and unions immediately.
In September, FBD Insurance launched its interactive next generation website, automating the purchasing of its insurance policies online.
Element Six, based in Shannon, is to slash around 150 jobs by the end of the year as part of a global group-wide cost saving programme.
The company, which employs 620 people, manufactures and distributes industrial diamonds and super-hard materials.
(DW)
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