No compulsory redundancies will be made at Quinn Insurance (under administration), the company said today.
Quinn Insurance said it received enough applications for voluntary redundancies so that compulsory redundancies would not be necessary.
The company has also confirmed to employees that Macquarie Merchant Bank has been appointed to manage the sale of Quinn Insurance Limited. The Quinn Group has agreed that Quinn Healthcare will also be sold as part of this process.
Quinn Insurance has also confirmed that performance-related bonus schemes are being reintroduced in July, following their suspension in April. In light of the company's financial position, bonus levels will be set at a lower level than previously, Quinn Insurance said.
