Insurance firm to cut 29 jobs in Clare

A multi-national insurance company in County Clare is to axe 29 jobs.

Genworth Financial provides Mortgage and Lifestyle Protection Insurance and employs 442 people at its European Service Centre in the Shannon Free Zone.

Sixty-three staff were told their jobs may be at risk today due to falling revenues and slow growth in a number of European markets.

Genworth Ireland Spokesman Guy Genney has said that consultation is now underway before a total of 29 positions go in the coming weeks.