Financial services firms US-based GE Money and Dutch-owned Citco are to cut a total of 97 jobs here.
GE Money, a provider of personal, motor and commercial loans, announced it was cutting about 80 jobs from its 400-strong workforce in Dublin and Shannon. The firm cited “unprecedented conditions” in the wholesale markets for its decision as it has ceased offering residential mortgages and is scaling back its car finance operations.
Citco said it would be cutting 17 of 90 positions from its trading operations and relationship management sections in Dublin’s IFSC. Citco employs more than 1,000 people between Dublin and Cork.
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