900 jobs to go at Quinn Insurance

MagicMarker

Ouch

http://www.rte.ie/news/2010/0430/quinn.html

900 jobs are to go at Quinn Insurance offices, with the jobs to go on a voluntary basis.

Read statements from Sean Quinn, Quinn Insurance and Quinn employees.

It is expected the cuts will happen over a 12-15 month period.

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The biggest job losses will be in the largest office, Blanchardstown, which currently has a staff of around 800.

Around 301 jobs will go there - 65 in the first phase, which will take place over the next two to three months.

The head office in Cavan will lose around 226 jobs out of 700, with 121 going in the first phase.

In Enniskillen 179 jobs will go with 87 going in the first phase.

Navan will be particularly badly hit, with around half the workforce going, 109 out of 220. 37 will go in the first phase.

In Manchester, 48 out of the 100 jobs will go.

The redundancies will be voluntary and staff must come forward by 19 May and will result in a saving of thirty million euro per year for Quinn Insurance.

In a personal statement from Sean Quinn, he said he was 'devastated' at the announcement of the impending redundancies.

The administrators said projected redundancies could be reduced if more customers are won.

'This is a difficult announcement to make and a considerably more difficult announcement for the workers of Quinn Insurance to hear. The scale of what we face is considerable,' joint administrators Paul McCann and Michael McAteer of Grant Thornton said.

'Unfortunately, this process is necessary in order to sustain and grow a viable insurance business.'

They said that they will continue to talk with the Financial Regulator in order to allow profitable business lines in Britain to be reopened. But certain loss-making lines of business will cease, they added.

Minister for Enterprise Trade and Innovation Batt O'Keeffe said he intends to meet with the administrators of the Quinn group later this evening to hear their view of the Quinn Insurance company.

He said the Government want to see what their plan is for the future of the company and to evaluate those plans.

Asked why he did not meet the administrators before today's announcement he said that would not have been appropriate.

Minister O'Keefe described the job cuts announcement as devastating for the workers and their families. He said the Government would do everything in their power to try to get replacement jobs.

He said he is putting an inter-agency group in place comprising of Enterprise Ireland, FÁS and others to support workers who will lose their jobs.

The redundancy terms to be offered to staff will include four weeks pay per year of service on top of the usual statutory entitlements.

'The restructuring process has taken into consideration a business plan which, we are confident, is realistic in the context of what it known and expected about conditions in our markets,' the administrators said.

The administrators said they have received more than 40 expressions of interest from outside parties in buying Quinn Insurance.

They say the contacts were made without being asked for and no discussions on them had yet begun.

The administrators say Quinn Insurance should be sold as a going concern as its value in its business model, its people and its claim management system.

Certain lines of business which is no longer profitable will not be re-opened by the administrators

Earlier, the Quinn Group said it had 'reluctantly' decided that it should sell its Quinn Insurance business.

Quinn Group said that, in view of the funds needed to meet the requirements laid down by the Financial Regulator, the future of Quinn Insurance was probably best protected under new ownership.

'Accordingly we will be working closely with the joint administrators to see if this objective can be achieved in as short a time as possible with the hope that this will protect the maximum number of jobs,' the statement said.

Not good news at all! And here was me thinking things were on the up.

Wibbs

Very sad news for 900 families in various parts of the country(and secondary businesses that may have relied on the quinn trade). We may seem like we're on the up and I think we will and have started to go up, but there are more bumps ahead. Mortgage insurance will be up for many soon enough and I dont think we've seen the crest of the wave on that front yet. I know quite a few people who have either fallen months behind on mortgages or are just about paying the interest payments. Never mind credit card debt etc. These would not be silly spender types either.

Mr. Incognito

Devastating, in some parts of the country that's all there is.

There will be huge knock on effects from these cuts

Aidric

Mr. Incognito wrote: »

There will be huge knock on effects from these cuts

Certainly will. They should direct their anger square at the door of Sean Quinn. Ironic really, he giveth then he take it away with recklessness.

RoyalMarine

are you fúcking kidding?

the quinn group make a reported profit of €1 million a day, but they need to lay off 900 people?!?

T-Square

Sean Quinn has a lot to say sorry for.

eth0_

RoyalMarineComm wrote: »

are you fúcking kidding?

the quinn group make a reported profit of €1 million a day, but they need to lay off 900 people?!?

That's reported and you're talking about the Quinn Group. Quinn insurance was removed from the Quinn Group by the High Court earlier this month.

The only person to blame here is Sean Quinn. He's the epitome of the vile cancer of greed that has invaded this country in the last 20 years or so. He lost a fortune buying shares in Anglo so to cover his personal losses he took another massive gamble and remortgaged the company! Except this time there was no risk of personal loss to him, but massive loss to his 900 employees.

Hopefully a buyer will be found and these jobs will be saved but it's galling that Sean Quinn won't receive any punishment for this. He has lied and lied and lied, and I feel so sorry for the Quinn employees who have been sucked in by him to the extent they demonstrated on his behalf to stop the company being put into administration, completely ignoring the fact it was entirely HIS FAULT. Vile, vile man.

m5ex9oqjawdg2i

Not good news at all, I heard this earlier on the radio. Unfortunate for a lot of people.

Mute

I feel very sad for the workers but I'm astonished that they are asking for the Financial Regulator to apply a soft touch to the Quinn Group. Its the soft touch regulation on business that has us in this mess!!

Inquitus

RoyalMarineComm wrote: »

are you fúcking kidding?

the quinn group make a reported profit of €1 million a day, but they need to lay off 900 people?!?

To run an insurance group you have to keep a required level of capital to cover claims. Making a million a day may be true, but if we had a disaster like the floods of a few years ago, an insurer flouting the rules like Quinn may not be able to pay the claims resulting.

Its like a bookie who only lays 100/1 shots, but doesn't have the money behind him to pay, one day one of the 100/1 donkeys finally wins a race, and he can't payout.

Quinns the disgrace here, and his refusal to follow the rules.

P.S. Go Connacht!

Mardy Bum

Cavan town is now up **** creek. All them employees made a lot of work for other people between lunches, child minding etc and now all gone. So it will be more than the 200 and something which is reported that will go unemployed.


This is a bloody disaster.

saltandpepper10

what an absolute disgrace to see it coming to this,3 weeks of bull**** about 300 jobs that could of been created at dublin airport,and they couldnt do anything to save 900 jobs in a profitable company.with a little help from the state sean quinn would have traded through his problems.come election time if i were a politician id be careful the doors id be knocking on

Mute

Its typical of this country with its parish pump politics. I heard on the radio today an Irish politician blaming the financial regulator because he was English!

Low paid - Non Unionised Jobs- Maverick Employer!

Not that much of a loss.

Ruu_Old

I know a large amount of people who used to go to the college in Cavan and then straight to Quinn Direct. Tough news to handle for a lot of families.

Mardy Bum

Mute wrote: »

Low paid - Non Unionised Jobs- Maverick Employer!

Not that much of a loss.

Low Paid? You've seen the salary sheets?

Its a massive loss to the economy.

Mute

Ruu wrote: »

I know a large amount of people who used to go to the college in Cavan and then straight to Quinn Direct. Tough news to handle for a lot of families.

If I spent years in college doing a degree it would be with the intent of trying to avoid working for the likes of Quinn!!

Mute

Mardy Bum wrote: »

Low Paid? You've seen the salary sheets?

Its a massive loss to the economy.

Yes they are similiar to Ryanairs.

These companies that are based on a certain financial model and customer and staff relationship will always fail.

All these fly-by-night Capitalists have failed!
Thats why the world is in recession.

But Ireland has more of them than all the world put together!:mad:

Grainne101

Mute wrote: »

If I spent years in college doing a degree it would be with the intent of trying to avoid working for the likes of Quinn!!

That is a disgusting attitude to have, a LARGE number of people went to college to get degrees, masters etc TO work for the likes of Sean Quinn, someone who made himself and was handed nothing by this state.

Sometimes I wonder at the attitudes of people on here I really do. Rather than express sympathy with those who will lose their jobs or the many thousands in knock on business who will inevitably lose out people are intent on laying blame. At least SQ had the good grace to apologise to those he caused this harm to, he was willing to come out and say sorry that he got greedy. I haven't heard many of the property developers whose loans ahve been taken on by NAMA apologising or the many politicians who stood idly by and took kick-backs etc apologising or the bank chiefs/former financial regulator.

Yes Quinn did wrong but at least he tried and at least he apologised....there are many more with a lot more to apologise for.

SugarHigh

"Navan will be particularly badly hit, with around half the workforce going, 109 out of 220. 37 will go in the first phase."

That's a huge building in Navan it must be practically empty already.


Edit: It was built to to hold 700 jobs but will now be holding just 87.
http://www.independent.ie/business/irish/quinn-to-open-700-job-facility-in-navan-85592.html


http://www.meathchronicle.ie/news/roundup/articles/2010/04/30/3996770-more-than-half-quinns-navan-workforce-face-redundancy/

eth0_

Grainne101 wrote: »

That is a disgusting attitude to have, a LARGE number of people went to college to get degrees, masters etc TO work for the likes of Sean Quinn, someone who made himself and was handed nothing by this state.

Quinn group are well known as a not particularly nice employer. They have a high turnover of staff because they work them to the bone and I could go further but I don't want to get banned from this forum.

Grainne101 wrote:

Yes Quinn did wrong but at least he tried and at least he apologised....there are many more with a lot more to apologise for.

Jesus...all this water under the bridge and people like you continue to be sucked in by Sean Quinn and his lies. This is not some newbie entrepreneur; Sean Quinn has been in business for what, 40-50 years? He knew exactly what he was doing. He gambled his own personal fortune on Anglo because his greed knows no bounds, he messed up, so instead of taking the hit to his OWN fortune, he re-mortgaged his company. He knew he was taking another gamble. He knew how vital his company was to the people of Cavan.

But he doesn't give a crap about the "little people".

PaddyBomb

Very sad to see so many lose their jobs

Suppose thats life I suppose... You 'Quinn' some, you lose some.

Sorry, Im leaving...

CrackerXYZ

Sean Quinn, Sean fitzpatrick, they are all the same.

Mute

Grainne101 wrote: »

That is a disgusting attitude to have, a LARGE number of people went to college to get degrees, masters etc TO work for the likes of Sean Quinn, someone who made himself and was handed nothing by this state.

Sometimes I wonder at the attitudes of people on here I really do. Rather than express sympathy with those who will lose their jobs or the many thousands in knock on business who will inevitably lose out people are intent on laying blame. At least SQ had the good grace to apologise to those he caused this harm to, he was willing to come out and say sorry that he got greedy. I haven't heard many of the property developers whose loans ahve been taken on by NAMA apologising or the many politicians who stood idly by and took kick-backs etc apologising or the bank chiefs/former financial regulator.

Yes Quinn did wrong but at least he tried and at least he apologised....there are many more with a lot more to apologise for.

If you look at my earlier posts I did express sympathy for the workers.
To respond to a couple of you points......

Apologising does not make it right!

There is no such thing as a self-made man! His workers made his wealth.

If the regulator capititulates than Mr Quinn will be like all the others you mentioned!

Wibbs

Grainne101 wrote: »

That is a disgusting attitude to have, a LARGE number of people went to college to get degrees, masters etc TO work for the likes of Sean Quinn, someone who made himself and was handed nothing by this state.

What in gods name has the latter got to do with the former?

Sometimes I wonder at the attitudes of people on here I really do. Rather than express sympathy with those who will lose their jobs or the many thousands in knock on business who will inevitably lose out people are intent on laying blame.

People have expressed sympathy and shock at this news. Re read the thread.

At least SQ had the good grace to apologise to those he caused this harm to, he was willing to come out and say sorry that he got greedy. I haven't heard many of the property developers whose loans ahve been taken on by NAMA apologising or the many politicians who stood idly by and took kick-backs etc apologising or the bank chiefs/former financial regulator.

Yes Quinn did wrong but at least he tried and at least he apologised....there are many more with a lot more to apologise for.

So he apologised(when was this BTW), but in that apology did he mention the playing fast and loose with the companies accounts, did he mention his repeated forays into unsustainable financial areas of insurance, did he mention the transfer out of the quinn group of 120 million to his wife and kids not so long ago? I'll bet he didnt. Will any of that money be pumped back into the failing company to save any jobs? I'll bet it won't.

Oh few of the bankers or developers or mr quinn or politicians or regulators who were either incompetent or ...well... will ever see the inside of a gaol cell or lose their nice lifestyles and fear homelessness. Many people after todays announcement may well fear that when people are being gaoled for not paying TV licences in this country. And I lay the blame squarely on Quinn and others shoulders for that.

Wibbs

eth0_ wrote: »

Jesus...all this water under the bridge and people like you continue to be sucked in by Sean Quinn and his lies.

It staggers me TBH. But it genuinely seems like a part of the Irish psyche. Look at teh cheers for Haughey when he was being brought into tribunals FFS. Mad.

This is not some newbie entrepreneur; Sean Quinn has been in business for what, 40-50 years? He knew exactly what he was doing. He gambled his own personal fortune on Anglo because his greed knows no bounds, he messed up, so instead of taking the hit to his OWN fortune, he re-mortgaged his company. He knew he was taking another gamble. He knew how vital his company was to the people of Cavan.

But he doesn't give a crap about the "little people".

Nail on the head and yet many of the "little people" still idolise people like him. Sure if they didnt at least a third of the dail wouldnt have been voted in.

Mute

Im very heartened with this tread.

Even though its tragic news about people loosing their jobs this tread reflects the anger and awareness of the people of Ireland currently.

Fool me once shame on youfool me twice shame on me!

Mute

I felt angry and sad when I saw the workers(not employees) given the day off work( i reckon they had to put in a days annual leave for it or else) to march and demonstrate to ask the government to instruct the financial regulator to let poor auld Mr Quinn break the rules.

Plowman

This post has been deleted.

ronaneire

Sad day for the 900 workers who are going to lose their job.
What next for this Country, as it slowly slides away.
Had to laugh when I read earlier that Minister Batt O'Keefe said "he is putting an inter-agency group in place comprising Enterprise Ireland, FÁS and others to support workers who will lose their jobs."
What did they do for the 1000's of others who have lost their jobs or been made redundant over the last few years?
Nothing, this Country is rotten to the core.

Mardy Bum

Mute wrote: »

There is no such thing as a self-made man!

Quinn is a self made man. You should get acquainted with the facts first.

He has also built West Cavan from the gorund up as it was an employment black spot until he came around.

He became Greedy massively greedy however and I have no sympathy for him as he has his own back sorted along with his family unlike the the many other hundreds.

eth0_

Mute wrote: »

Im very heartened with this tread.

Even though its tragic news about people loosing their jobs this tread reflects the anger and awareness of the people of Ireland currently.

Fool me once shame on youfool me twice shame on me!

Just unfortunate that this thread doesn't reflect the anger and awareness of a huge percentage of Quinn employees :-(

Aids By Google

The 900 jobs wouldn't exist if it were not for him.

I am glad to see the regulator taking a hard line. Lord knows the mentality of those saying otherwise considering how the country got screwed because the regulator was once lax elsewhere!

eth0_

Aids By Google wrote: »

The 900 jobs wouldn't exist if it were not for him.

He didn't create 900 jobs as a charity service to the people of Cavan and Blanchardstown. He expanded the company to expand his own wealth. Quinn Direct did not pay particularly well either. The employees owe him nothing and have no reason to be grateful to him when you consider how he knowingly gambled with their futures and lied through his teeth even after was caught out by the regulators.

Aids By Google

eth0_ wrote: »

He didn't create 900 jobs as a charity service to the people of Cavan and Blanchardstown. He expanded the company to expand his own wealth. Quinn Direct did not pay particularly well either. The employees owe him nothing and have no reason to be grateful to him when you consider how he knowingly gambled with their futures and lied through his teeth even after was caught out by the regulators.

I didn't say he did it as charity? Why should the employees, that he paid, owe him anything or be grateful to him or why should he be gratefull to them even?

Companies grow and companies fail.

Wibbs

Aids By Google wrote: »

Companies grow and companies fail.

No disagreement there, but when a company is driven into the ground by unwise/dodgy delete as applicable directions from the head of the company, when the same head salts away money from said company to members of his family to keep it safe, the billionaire version of "puttin the oul house in d'wifes name", then its a very different story.

If the economic downturn hadnt happened, if this country hadnt inflated a housing boom, the quinn group would have still gone under because of shady/unwise practice. Never mind the quinn group in isolation, look at the connections with Anglo that have cost the taxpayers of this country billions. Billions your grandkids will be paying off after you're gone. That's why I call for him and others like him to be brought to book and brought hard to the same book.

Of course it wont happen. He'll be fine, he'll apologise again, maybe a tribunal appearance which will cost us dear and still fcuk all will come from it and the little people, the people him and his ilk fcuked over for at least a generation into the future will still support the likes of him. And the familiar comes back again. And we deserve it.

ANDYBOND777

ah here now...900 is a big number.......
it is recessionary time but still...900 job losses will hit the economy harder...

The_Minister

eth0_ wrote: »

He gambled his own personal fortune on Anglo because his greed knows no bounds, he messed up, so instead of taking the hit to his OWN fortune, he re-mortgaged his company. He knew he was taking another gamble. He knew how vital his company was to the people of Cavan.

But he doesn't give a crap about the "little people".

He owns the company, he did take a hit to his fortune.

He shouldn't have risked his assets like that, by breaking the regulations, but I don't see how you can give out about him not caring that his company is important to Cavan, and then in a later post refuse to give him an credit for creating jobs there (even though he really would have been better elsewhere).

ejmaztec

Quinn was like many of the high fliers in this country, so blinded by the big numbers flying around, and imaging that they were so wealthy that nothing could possibly go wrong.

The only thing wrong now is that the greedy bastards are still roaming free, not giving a flying fuck about the devastation left behind.

The Quinns won't be down the dole office.

eth0_

The_Minister wrote: »

He owns the company, he did take a hit to his fortune.

The hit he took was to his OWN money when he bought shares in Anglo, not Quinn Group's money.

eth0_

Aids By Google wrote: »

I didn't say he did it as charity? Why should the employees, that he paid, owe him anything or be grateful to him or why should he be gratefull to them even?

Companies grow and companies fail.

"The 900 jobs wouldn't exist if it were not for him" <-- sort of implies that you thought he was doing the people of Cavan a favour by employing them.

Quinn Direct has not "failed" as a business. It has a massive customer base and it makes huge amounts of profits. It was placed into administration because Sean Quinn removed a shedload of cash from the business.

clikityclak

Where i live a good 60 miles from the nearest Quinn office, but people in my area are already worrying a about the fall out... It's suprising how far the spin off business spans.
Sean Quinn may have built his business from nothing, provided jobs etc., but at the end of the day it was for his own back pocket.
He's a gambler and it was only a matter of time before his house of cards fell...
The poor workers

K-9

I am extremely sad that 90O people will lose jobs because of a badly managed company. This hass happened to thousands of people in the last couple of years in industries like Construction but the reasons for it are astounding. It really shows what was going on in this country due to lack of regulation:

Seán Quinn's risky business

Here you have what Quinn did with Anglo and indirectly the Quinn Group put in perspective:
Quinn's Anglo bet 'biggest cfd loss ever'

To quote from the article:

David Buick of financial bookie Cantor Fitzgerald said that the losses Sean Quinn made betting on a single share, Anglo Irish, through contracts for difference (CFDs) were "undoubtedly" the biggest an individual has suffered in the history of CFD trading.

Remember this is Ireland, a small country on a small bank, well, what should have been a small bank!


Another quote:

Leading market historian David Schwartz, who also writes on his stock-market trading activities for the Financial Times, said that Sean Quinn's overall losses were "eye-watering" regardless of whether they propelled him to near the top list of those losing most money in the stock market crash. Big investors such as Bill Gates and Warren Buffett would have lost more but over a longer period, he said.


Its GUBU material to quote Charles J., Grotesque, Unbelievable, Bizarre and Unprecedented

Wudyaquit

Aidric wrote: »

Certainly will. They should direct their anger square at the door of Sean Quinn. Ironic really, he giveth then he take it away with recklessness.

T-Square wrote: »

Sean Quinn has a lot to say sorry for.

eth0_ wrote: »

That's reported and you're talking about the Quinn Group. Quinn insurance was removed from the Quinn Group by the High Court earlier this month.

The only person to blame here is Sean Quinn. He's the epitome of the vile cancer of greed that has invaded this country in the last 20 years or so. He lost a fortune buying shares in Anglo so to cover his personal losses he took another massive gamble and remortgaged the company! Except this time there was no risk of personal loss to him, but massive loss to his 900 employees.

Hopefully a buyer will be found and these jobs will be saved but it's galling that Sean Quinn won't receive any punishment for this. He has lied and lied and lied, and I feel so sorry for the Quinn employees who have been sucked in by him to the extent they demonstrated on his behalf to stop the company being put into administration, completely ignoring the fact it was entirely HIS FAULT. Vile, vile man.

Inquitus wrote: »

To run an insurance group you have to keep a required level of capital to cover claims. Making a million a day may be true, but if we had a disaster like the floods of a few years ago, an insurer flouting the rules like Quinn may not be able to pay the claims resulting.

Its like a bookie who only lays 100/1 shots, but doesn't have the money behind him to pay, one day one of the 100/1 donkeys finally wins a race, and he can't payout.

Quinns the disgrace here, and his refusal to follow the rules.

I've only gone through the first page but what an unaldulterated pack of self-righteous bull****.

"Aaarrrgghh I hate Gombeenism and this new fella's sorted it all out. God bless him That Quinn fella got what's comin to him, the huare"

I'm not even going to argue the facts, as as an employee I've argued them on here over the last couple of weeks and had no balanced response yet. Half of the loudmouth begrudgers with nothing to lose have taken great satisfaction in what's happened thinking it's not going to affect them and whatever the loss, at least the big bad wolf might be gone.

Yesterday's news is not good news for anyone. Not the employees, their families, or the Irish taxpayer, who will now have to pick up the tab.
And point the finger at Quinn all ya want. The Financial Regulator has purposely lost tens of millions of euros going against the advice of the Administrators. The new golden child, Elderfield can do no wrong, but regardless of posters' opinions of Quinn and his disasterous investment in Anglo, a bad situation has exacerbated terribly by Elderfield's pride and short-sightedness, forcing one of Ireland's most successful companies to the brink.

Dress your opinions up all you like, but all it comes down to is good old Irish begrudgery, mixed with a fair bit of ignorance of the facts

Inquitus

Wudyaquit wrote: »

I've only gone through the first page but what an unaldulterated pack of self-righteous bull****.

"Aaarrrgghh I hate Gombeenism and this new fella's sorted it all out. God bless him That Quinn fella got what's comin to him, the huare"

I'm not even going to argue the facts, as as an employee I've argued them on here over the last couple of weeks and had no balanced response yet. Half of the loudmouth begrudgers with nothing to lose have taken great satisfaction in what's happened thinking it's not going to affect them and whatever the loss, at least the big bad wolf might be gone.

Yesterday's news is not good news for anyone. Not the employees, their families, or the Irish taxpayer, who will now have to pick up the tab.
And point the finger at Quinn all ya want. The Financial Regulator has purposely lost tens of millions of euros going against the advice of the Administrators. The new golden child, Elderfield can do no wrong, but regardless of posters' opinions of Quinn and his disasterous investment in Anglo, a bad situation has exacerbated terribly by Elderfield's pride and short-sightedness, forcing one of Ireland's most successful companies to the brink.

Dress your opinions up all you like, but all it comes down to is good old Irish begrudgery, mixed with a fair bit of ignorance of the facts

There is simply no defending Quinn in this situation, the company was operating outside of the required capital ratios for an insurer. To do so is against the rules and also gives the company an artificial advantage over competitors. What makes me sick is all the fools defending Quinn and arguing for any other course of action.

Yes its bad for Ireland, bad for Navan among other places, and bad for the employees, but it's noones fault bar Sean Quinn's, and unfortunately whats happening is necessary.

SarahMs

'900 hand jobs to go in Quinns'

thats what no sleep and dyslexia doz to ya.....

danbohan

betafrog wrote: »

The company has been overstaffed for years.

and that's based on what ?, you have inside information, please do share , now the company that's really overstaffed for years here is our public service hopefully we can shed a third of jobs there too

ch750536

The backward attitude to this was showing last night, the number of people who blamed the English for this.... unreal.

'The english want to take over the company, that's why it's an Englishman making the decisions.'

When I made the point that it was a disgrace that people were being put in a place where they would not have been paid due to the corrupt, immoral but sadly not illegal behaviour of Quinn they leapt to his defence.

wtf?

I totally support the financial regulator here, should have closed Anglo too.

Its a shame for those losing jobs but there is chance that someone will but the company.

dixiefly

SugarHigh wrote: »

"Navan will be particularly badly hit, with around half the workforce going, 109 out of 220. 37 will go in the first phase."

That's a huge building in Navan it must be practically empty already.


Edit: It was built to to hold 700 jobs but will now be holding just 87.
http://www.independent.ie/business/irish/quinn-to-open-700-job-facility-in-navan-85592.html


http://www.meathchronicle.ie/news/roundup/articles/2010/04/30/3996770-more-than-half-quinns-navan-workforce-face-redundancy/

First of all I suspect that Quinn has been more than a little niaive in his dealings with Seanie Fitz and his cohorts. I would say that Quinn got sucked into the belief that he was being offered a deal that was impossible to refuse - a no brainer. Of course he was being selfish but he didnt get to where he is without making big decisions and going for broke on some deals, investments etc.
He has made big big mistakes but, in my opinion, he is a different case to Fitzspatrick, Fingelton, Bertie Ahern, Brian Cowan, Charlie McCreery who are culpable for the bigger mess in their organisations / the country and whom, in my opinion, carried out many of their actions for their own / their parties gain.

I would also worry about the future of the Navan office. Anyone running the organisation with any sense will look to get efficiencies and it is hard to see them continuing with the office if there are only 87 employees left with other offices in Cavan & Blanchardstown.

danbohan

betafrog wrote: »

Having worked for the company and knowing several higher ups... Quinn's policy was never to let people go, instead they just keep moving them around within the company and hiring new people. What's more there are often several teams doing work that would struggle to keep more than a few people busy.

sean quinn might be a lot of things , but a charity i doubt , he was pretty ruthless employer in the early years for sure , so keeping people on if it was cost to company seems unlikely ,

JohnCleary

danbohan wrote: »

and that's based on what ?, you have inside information, please do share , now the company that's really overstaffed for years here is our public service hopefully we can shed a third of jobs there too

First hand information that the Insurance company was overstaffed. For example in claims, staff generally had about 20-30 claims per head. Comparing that with Hibernian, where one member of staff could have up to 200 claims.

Yes, i'd call that over-staffed compared to other rival companies anyhow.

dixiefly

JohnCleary wrote: »

First hand information that the Insurance company was overstaffed. For example in claims, staff generally had about 20-30 claims per head. Comparing that with Hibernian, where one member of staff could have up to 200 claims.

Yes, i'd call that over-staffed compared to other rival companies anyhow.

How were they able to be competitive if the efficiencies were that different? They were touted as the company with the lowest costs / best efficiencies.