Thursday, October 17 16:11:39
Belgian-based international insurance services provider, BSB, today said it will close its office in Dublin with the loss of 18 jobs.
BSB said today that the company is starting a consultation process with its employees in Dublin, in relation to the proposed closure of its local office.
The decision comes in the wake of BSB's ongoing initiatives to restore its full competitiveness, a statement said.
BSB currently employs 18 staff in the Dublin office, responsible for developing software and producing user documentation for BSB's insurance policy administration system and ancillary activities.
The company anticipates that the closure of the Dublin office would result in a structural cost saving of E1.7 million.
"This is an extremely difficult decision, because it directly impacts a group of employees and follows a comprehensive review of our current development facilities," said Jean Martin, CEO, BSB. "This proposal is being considered, however, for the company's long-term sustainability, in line with the required reductions in our cost base to hit our financial targets."