Friday 24 November 2017

Quinn workers to fight 800 job losses

Jeananne Craig

Workers at embattled Quinn Insurance vowed today to fight plans to make around 800 staff redundant.

Administrators appointed to the troubled company are set to make the cuts as part of a downsizing of the multinational.

The plans, which will be discussed with staff tomorrow, could see about of a third of the firm's 2,400-strong workforce lose their jobs.

It is understood the majority of cuts will be made at the company's biggest centres in Dublin, Cavan, Navan and Enniskillen.

Staff are expected to be offered voluntary redundancy over a period of up to 18 months, with management seeking some redundancies in the shorter term.

Workers' spokeswoman Mona Bermingham said staff were extremely fearful for their futures.

"This is the first we've heard of it - we had been given no indication of numbers or locations," she said.

"There's a lot of worry, disillusionment, dejection - it's going to have a massive impact.

"This is not something we'll be accepting easily."

Earlier this month, the High Court in Dublin appointed Paul McCann and Michael McAteer, of Grant Thornton, as permanent administrators to Quinn Insurance after Financial Regulator Matthew Elderfield raised concerns about its solvency levels.

The firm's UK division was shut down but Mr Elderfield allowed it to reopen for some business last week while he liaised with the administrators about reinstalling other product lines.

Ms Bermingham called for more work to resume in the division as soon as possible.

"If more segments of the UK market reopened they could then reassess the job losses," she added.

A spokesman for the administrators declined to comment on the redundancies and said staff would be the first to be informed at meetings in Quinn Insurance centres tomorrow afternoon.

"We are not communicating it to anyone until we communicate it to staff," he added.

The Quinn Group employs more than 8,000 people across the UK and Ireland through the flagship insurance firm and cement, quarry, glass and property businesses.

Press Association

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