Liberty Insurance to lay off hundreds of staff
Liberty Insurance is to let go a large number of their Irish based staff.
Liberty Insurance staff were told this morning that the company plans to cut 270 jobs from its operations in Cavan and Blanchardstown in Dublin.
Boston-based Liberty bought Quinn Insurance four years ago and has about 1,000 staff here based in Cavan, Blanchardstown and its Enniskillen call centre in Co Fermanagh.
It is believed that the decision is linked to Liberty’s decision to pull out of the UK motor insurance market.
The insurance group has said the job losses will be voluntary and will take effect over the next 18 months.
The company is expecting the breakdown for losses by location to be approximately 135 redundancies in Dublin, 115 in Cavan and 20 in Enniskillen.
Speaking on the upcoming redundancies chief executive of Liberty Insurance Tom McIlduff said: “We have achieved a lot in our first few years in Ireland, having established a strong brand and grown our distribution network.
“However, the market is challenging and we have been loss making with an uncompetitive cost base. Withdrawing from the Great Britain market, focusing on Ireland and streamlining our operating model will enable us to strengthen our long term competitive position in Ireland in order to service our customers and brokers better.”
