Partial UK reopening blamed for reduced headcount
Quinn administrators Paul McCann and Michael McAteer of Grant Thornton plan to cut jobs as Quinn is only partially allowed to re-enter the UK market.
They said that the UK business will be “significantly reduced compared to the levels prior to administration”, and that it was likely that “customers’ understanding of the administration process would impact some of the company’s ROI business lines”.
“As a result, and regrettably, staff levels are unlikely to continue as is. The administrators are as a matter of urgency continuing to liaise with the Financial Regulator to re-instate other UK business lines, as per the business plan submitted to his office last week.”
A going concern
The administrators said that their focus is to ensure that Quinn can continue as a going concern and returned to a sound financial footing. They wanted it to remain a significant employer.
The company will be working with employees to elect Employee Representatives for each Quinn site to incorporate staff views into their assessment and decision-making process.
Websites
No comments yet