October 7
GE Money to cut 130 jobs in Shannon
GE Money to cut 130 jobs in Shannon
50 jobs are expected to be lost at the GE Money company in Shannon, and a further 15 at its base in Dublin, as a result of company restructuring.
The company is involved in the sale of financial products including insurance, mortgages, car and personal loans, financial brokerage and equipment finance leasing.
178 people are employed by the company in the Shannon Free Zone, and staff have been told that a number of jobs will be affected by a decision to restructure its business.
This will mean the discontinuation of a number of products handled by GE Capital Solutions, and the transfer of other products and operations to GE Money Ireland.
A 30-day consultation process has begun with staff who are affected by the changes, and they say they hope to redeploy as many as possible where vacancies exist in the company.
The company says they need to restructure their Irish business in response to the economic environment, which has remained challenging and where the outlook is unclear, but added that they are committed to keeping a significant operation in Shannon.
They say the restructuring announcement will have no impact on existing mortgages, personal loans, care finance agreements and insurance policies held in Ireland.