Around 100 jobs to be lost at Primark headquarters in Dublin as company announce major scale backs in ‘difficult' call
AROUND 100 jobs are set to be lost at the Primark Headquarters in Dublin amid cut backs across Ireland, the UK and the US.
The parent company of
These job losses would span across procurement, finance and HR.
And around 100 of the 150 proposed redundancies would hit the Primark head office in
There are currently 1,500 staff employed at the site in the capital.
The redundancies come amid a proposal by
READ MORE IN NEWS
Reportedly Accenture in Mumbai would take over these actives.
A spokesperson for the company said the decision was not taken lightly and supports would be in place for those
However, the company maintain the decision will allow them to "focus" their own resources.
A Primark spokesperson said: "As we continue to grow internationally, we need to evolve our operating model to best support this ambition.
Most read in Irish News
"We're exploring how resourcing via external partners could help support our operations so that we can focus our own resources on what we do best."
"As part of this, we are now proposing that a number of support function activities move to a third party and we are beginning a collective consultation."
"This unfortunately will impact a number of Primark colleagues primarily in our head office operations."
River Island confirms which 33 stores are shutting as a further 70 at risk in huge shake-up – is your local going?
The spokesperson added: "We understand how difficult this news is for those colleagues affected and we'll be working to support them as best we can."
The Irish layoffs represent around seven per cent of the 1,500 staff based at the international headquarters in Dublin.
FUTHER RETAIL BLOW
It is the latest blow for the Irish retail sector amid the
River Island has announced the closure of its Henry Street branch.
In a poster on the shop window, the retailer said they will be closing later this month.
The branch, which is one of 24 across the country, will close their doors on June 27.
It comes amid River Island closures in the
The retailer is set to undergo a restructuring as a result of tough trading conditions.
The latest one to shut is located in Banbury, and will close on June 28.
Sky News reported that the owners of River Island brought in advisers from PricewaterhouseCoopers (PwC) to come up with money-saving solutions.
PROFITS LOSS
Proposals are expected to be finalised in weeks, though sources have reportedly claimed no decisions have been approved on the retailer's future.
Accounts for River Island Clothing Co for the year ending 30 December 2023 showed the firm made a €38million pre-tax loss.
Then the turnover during the following 12 months fell by more than 19 per cent to €677million.
1
Primark is the parent company of Penneys
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Independent
an hour ago
- Irish Independent
HR software giant Deel admits it instructed ‘discreet' surveillance be carried out on Irish payroll manager
One of the companies in the international HR firms' "spy" dispute instructed that "discreet" surveillance be carried out on the Irish payroll compliance manager at the centre of High Court proceedings over the affair, a judge was told on Wednesday. US headquartered Deel Inc, which allegedly recruited Dublin man Keith O'Brien to pass on trade secrets to it from his employer Rippling, also headquartered in the US, did not instruct that there be covert or intimidatory surveillance on Mr O'Brien, Mr Justice Brian Cregan was told.
Irish Independent
an hour ago
- Irish Independent
Revenues at cystic fibrosis drugmaker Vertex hit $2.63bn on back of Kaftrio sales
New accounts show that revenues at Vertex Pharmaceuticals (Ireland) Ltd last year increased by 13pc from $2.31bn to $2.63bn. The Dublin-registered company fulfils all EU-wide sales, and the firm now sells a range of CF drugs that includes Kalydeco and Orkambi across the EU. Vertex has five approved CF medicines that treat nearly three-quarters of the approximately 94,000 people suffering from CF in the US, Europe, Australia and Canada. Pre-tax profits at the company rose by 27pc to $17.6m Against the background of the sharp increase in revenues at the Dublin arm, pre-tax profits at the company rose by 27pc to $17.6m. The company's operating profits increased by 14pc to $10.16m and interest income of $7.4m resulted in the pre-tax profit of $17.6m. The company recorded post-tax profits of $13.2m after incurring a corporation tax charge of $4.39m. The corporation tax charge included $1.23m in adjustments in respect of prior years. Globally, Vertex's sales of Kaftrio/Trikata accounted for 93pc, or $10.2bn, of $11.02bn in global sales. The Irish-based unit accounted for 24pc of global sales. The directors for the Irish-based unit state: 'The increase in revenue for the financial year was due to the continued growth of Kaftrio sales to Vertex-affiliated companies in the EU.' Pay of Reshma Kewalramani, CEO of Vertex's global operations, totalled $23.68m Numbers employed last year increased to eight and staff costs rose by 70pc from $1.3m to $2.2m that included salary costs of $1.5m, $492,000 in share-based payments and $186,000 in social security costs. ADVERTISEMENT The directors state that in December 2024, the Food and Drug Administration (FDA) in the US approved Alyftrek for the treatment of people with CF aged six and over, and the directors state that Alyftrek is currently under regulatory review in the EU. The directors of the Irish company did not receive any pay from the firm in 2024. However, the pay package for the CEO and president of Vertex's global operations, Reshma Kewalramani, last year totalled $23.68m. The CEO's 2024 pay package included stock awards of $17.14m along with non-equity bonus pay of $4.94m. At the end of December last, shareholder funds at the Irish unit totalled $439.16m. Cash funds increased sharply from $262m to $395m.
Irish Daily Mirror
3 hours ago
- Irish Daily Mirror
GoCar reduces services in one county after 'significant damage' caused to cars
An Irish car-sharing company has opted to reduce its services in one county following ongoing 'antisocial behaviour', with 'significant damage' caused to a number of vehicles. GoCar confirmed it would be 'temporarily' reducing the number of vehicles available in Limerick after 'months of persistent incidents' where cars were damaged, placing what the company has called an 'unsustainable strain' on its operations. The car rental company said it was 'genuinely sorry' for the disruption caused to customers and that it is working with Gardaí to restore full service as soon as possible. A GoCar spokesperson told the Irish Mirror: 'At GoCar, we're proud to be a part of the Limerick community since 2017 and truly value the support of our members. We've worked hard to continue providing a reliable service, because we know how important it is to your daily life. 'Unfortunately, months of persistent incidents of antisocial behaviour have caused constant significant damage to our vehicles and placed an unsustainable strain on our operations. 'As a result, we've had to make the very difficult decision to temporarily reduce the number of GoCars available in Limerick. 'We know this will cause disruption to those that use our cars correctly, and for that, we're genuinely sorry. Please rest assured that this is not a decision we've taken lightly. 'We're working closely with local authorities and an Garda Siochana to address the issues and are doing everything we can to restore full service as soon as possible. Thank you for your understanding and for being a valued part of the GoCar community.'
