Wonga

Type
Closure
Country
Ireland
Region
Ireland; Eastern and Midland; Dublin
Location of affected unit(s)
Dublin
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64.9 - Other financial service activities, except insurance and pension funding
64.92 - Other credit granting
175 jobs
Number of planned job losses
Job loss
Announcement Date
26 February 2015
Employment effect (start)
25 February 2015
Foreseen end date
30 June 2016

Description

Loan services operations, Wonga, plans to shut its Dublin office by mid-2016. The decision was reportedly taken so as to reduce the company's "high cost base". Wonga was forced to pay €3.5m out in compensation last year, after it issued fake legal letters.

Sources

  • 26 February 2015: Irish Independent

Citation

Eurofound (2015), Wonga, Closure in Ireland, factsheet number 78555, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78555.