80 jobs to go at Shannon-based insurance company

A Shannon-based firm is set to lose a quarter of its 300-strong workforce.

Lloyds Banking Group, which owns the St Andrew's Group in Shannon (formerly Halifax Insurance), has confirmed plans to axe 80 positions in its Irish-based insurance division.

The company manages insurance claims and customer service on behalf of various brands, such as MBNA, Sainsbury's Bank and AA Personal Finance.

Last July, the company cut 21 positions after confirming it would no longer be involved in the payment protection insurance market which formed part of the operation in Shannon.

In a statement this afternoon, Lloyds Banking Group said compulsory redundancies will always be a last resort.

The company has confirmed that it has already informed the Unite union of the news and that it will now enter a consultation process with workers and union representatives.