Axa to shed 120 jobs in Dublin – Insurance Jobs
It looks like there is more bad news for the Insurance Sector with the announcement that Axa will shed 120 jobs at its Dublin offices. This news follows a previous announcement by Hibernian that they will shed 580 jobs moving them to Bangalore in India. We brought you rumours of this Hibernian announcement a few months back.
Axa plans to shed the 120 jobs through voluntary redundancy and there may be plenty of takers as they also plan to restructure pay scales. Basically those left in the company may have to take a pay reduction. This scenario is not uncommon in this climate as a leading Estate Agent in Ireland reported the same move recently to fight of the possibility of redundancies.
Axa has seen its turnover drop drastically over the last number of years so this latest news does not surprise many commentators. Having said this for those affected the news is always hard to take.
It also looks like Northern Ireland is not safe from the current economic conditions. Toughglass in Co Down has announced 60 compulsory redundancies.
If you have been affected by redundancy – a career coach, interview coach or CV service could help you navigate these difficult times.
Tags: AXA Insurance, Hibernian, India, Insurance Jobs, Irish Jobs, Norther Ireland Jobs, Recession, Redundancy, Toughglass
July 9th, 2008 at 6:27 pm
[...] news and financial services and insurance sectors have been taking a bit of a hammering with the Axa Insurance news and Hibernian news. The Citigroup announcement will bring the number of staff to 850 in the [...]
August 22nd, 2008 at 10:48 am
ARDMAC LTD. MAKES EMPLOYEES REDUNDANT
Ardmac Ltd., one of the market leading interior contracting companies across Ireland and the UK has felt the squeeze of the recent economic downturn and shed a portion of its staff in an attempt to remain at the edge of competitiveness in its market. Its recently redesigned website, which ironically states that the company is committed to the provision of ‘safe’ and ‘secure’ employment can’t mask the fact that no players, big or small in this market are infallible.
Many other construction firms are trimming back their manpower in an attempt to fall into line with current market conditions, while at the same time trying desperately to win big contracts. Unfortunately, most are becoming increasingly confronted with a throng of rivalry from other equally desperate firms. A recent poll suggested that almost 15 percent of Ireland’s construction employees have been let go from their companies in the last five months as this unrelenting tsunami of market exhaustion takes its callous crest further inland.
As many politicians and purported economic experts throw their two cents worth into the think tank on how to resolve this construction industry implosion, it doesn’t take the most seasoned erudite to tell you that they might as well be throwing those two cents into a wishing well and crossing their fingers for a miracle cure. There is simply nothing man, woman or beast can do to thwart the course of a cyclical economic downturn. It is simply a waiting game, a long one at that.
Ardmac will now have to re-evaluate the truth of the current market climate and subsequently; the wording of their new, dynamic website by acknowledging that there is no such thing as ‘safe’ nor ‘secure’ employment in this worn out economy. Or perhaps they just want to continue living in denial.