Internal restructuring
Southern and Eastern; South-West (IRL);
Location of affected unit(s)
Killorglin (Co. Kerry)
Financial Services
Activities Auxiliary To Financial Services And Insurance Activities
Activities Auxiliary To Financial Services And Insurance Activities
66 - Activities auxiliary to financial services and insurance activities

150 jobs
Number of planned job losses
Job loss
Announcement Date
4 June 2020
Employment effect (start)
4 June 2020
Foreseen end date
31 December 2020


Financial services company Fexco has signalled it will reduce its workforce in Killorglin by up to 150 people. The company CEO told staff in an email this week that the company will need to reduce its workforce by 15% this year. Fexco currently employs around 1,000 people in County Kerry, Ireland.

The job reduction will be sought mostly through voluntary redundancy, with other options such as short-time working and career breaks also available.

The company implemented a three-month salary reduction when the Covid-19 crisis emerged. This reduction is to be extended for another three months. The restructuring is caused by the economic consequences of the pandemic. 



Eurofound (2020), Fexco, Internal restructuring in Ireland, factsheet number 100803, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/100803.