116 insurance jobs to go in Galway
Tuesday, 11 November 2008 22:57
There was more bad news on the jobs front for Galway city this evening with the announcement that all 116 employees of an insurance company, owned by the Royal Bank of Scotland, are to be laid off.
Inter Group Insurance Services had been in operation in the city for the past 10 years.
It is the second jobs blow for the city inside a week.
Previously, Churchill Insurances, which had taken over Inter Group, promised the city 600 new jobs within 5 years.
But jobs on that scale never materialised.
This evening in Ballybrit at the Inter Group Offices, now owned by Royal Bank of Scotland, the mood was very much more sombre as the 90 fulltime and 26 contract workers were told they are to lose their jobs.
In a statement Inter Group said the closure decision had been forced on it by what it described as a fundamental shift in the insurance outsourcing market in recent years.
It said some of its major clients had taken their travel insurance business back in-house and it had no option but to make the closure announcement to the workforce this evening.
