Accountancy firm Grant Thornton, which recently launched a recruitment drive in Cork, said that large pay cuts proposed for its 4,500 staff in Britain amid the Covid-19 crisis will not apply at its seven offices across Ireland.
The audit firm has asked its employees in Britain to volunteer for drastic pay cuts or face a substantial redundancy programme, Sky News reported.
Staff in Britain have reportedly been asked to accept pay cuts of 40% to avoid a potential measures of unpaid leave and a number of job losses in a move which will raise concerns about the fallout on business in the UK following its lockdown in recent weeks.
However, Grant Thornton in Ireland said the pay proposal would not apply for its 1,450 staff at its offices in Ireland, which include Dublin, Belfast, Cork, Galway, and Limerick. It also has offices in Longford and Kildare.
A Grant Thornton spokeswoman said that the the pay proposals would not apply here following reports "relating to Grant Thornton UK’s response to Covid-19 and the offer to staff to voluntary reduce their hours if it assists with their personal circumstances".
"Grant Thornton Ireland operates over the 32 counties of Ireland as a separate trading entity from Grant Thornton UK. The two firms are connected through an International network only and do not share any trading, P&L or operation functions," she said.
"Grant Thornton’s seven offices and 1,450-strong workforce are operating remotely and servicing clients," the spokeswoman said.
The firm said late last year it was set to increase staff at its Cork bases, with the potential to more than double its workforce in the city where it currently employs over 105 people.