Thaindian News

By Madhuri Dey
May 3, (THAINDIAN NEWS) Michael McAteer, the person running Quinn Insurance, declared a few days back that the company is on the verge of giving the pink slip to large number of its employees. The estimated number given was almost 900, more or less, and it was mentioned that about 200 posts in the branches in Derrylin and Enniskillen would also be facing the cut. The company announced that the termination would be taking place in a voluntary method.

The authorities clarified that this measure has been taken to ensure the future of the company which was hit hard during the recession period. The company has been presently put up for sale, and it is necessary to safeguard the future of the business. At present, Quinn Insurance boasts a workforce of about 2,400 employees, but it is necessary to cut down the number significantly. However, although it was well known that the company would be cutting down on the number of employees, the number has been larger than what was being expected. It was being speculated, initially, that about 800 people would be losing their jobs.

Michael McAteer commented that the people willing to take up the package would have time till May 19 to announce their decisions. At present, the leaders of the employee representative committees are explaining the entire package to them, which would come into effect about 12 to 15 months later. Therefore, those who are being laid back from the jobs would get the opportunity to look for another job within that period of time. However, despite all the measures taken to ensure the interests of the staff, the owner Sean Quinn said that he realizes what the loss of the job would mean for most of them.