Brexit: Firms quietly moving 100s of jobs to Ireland

gleeful

Well-known member
Joined
Feb 7, 2016
Messages
7,520
We are used to big jobs announcements, but O'Reilly has commented that many firms are moving jobs to Ireland without a press release "because of political sensitivities in the UK"

Brexit: finance firm

"Fine Gael deputy leader James Reilly has said he “knows for a fact that there are 450 jobs coming to Ireland from a major international financial services company.”

Is there any evidence of this? There do seem to be a lot of jobs advertised on the various recruitment sites with no company name (or simply named under a recruitment agency).

Who is hiring?
 


cozzy121

Well-known member
Joined
May 26, 2009
Messages
5,117
We are used to big jobs announcements, but O'Reilly has commented that many firms are moving jobs to Ireland without a press release "because of political sensitivities in the UK"

Brexit: finance firm

"Fine Gael deputy leader James Reilly has said he “knows for a fact that there are 450 jobs coming to Ireland from a major international financial services company.”

Is there any evidence of this? There do seem to be a lot of jobs advertised on the various recruitment sites with no company name (or simply named under a recruitment agency).

Who is hiring?
He is a fg politician, he is lying it's all him and his ilk know
 
D

Deleted member 48908

Be nice if we had a Brexit sub-forum where we could have all of these threads in one place.
 

Roll_On

Well-known member
Joined
May 27, 2010
Messages
17,544
Ya win some ya loose some, Dublin was never going to collect 100% of the Brexit fallout, some of it will go to Luxembourg and Amsterdam. We couldn't accommodate all of the Brexit fallout if we tried, Dublin's office vacancy rate is hurtling towards 0% and the available offices are mostly just scrappy bits of old buildings here and there. It takes years to build new offices and in Ireland you're more less limited to 4 floors.
 

Mitsui2

Well-known member
Joined
Nov 13, 2009
Messages
32,380
Be nice if we had a Brexit sub-forum where we could have all of these threads in one place.
Someone as saying that here only lately... I'm not sure who.

it's an excellent idea, though, given the huge importance of the subject.
 

Sister Mercedes

Well-known member
Joined
Dec 19, 2011
Messages
20,461
Ya win some ya loose some, Dublin was never going to collect 100% of the Brexit fallout, some of it will go to Luxembourg and Amsterdam. We couldn't accommodate all of the Brexit fallout if we tried, Dublin's office vacancy rate is hurtling towards 0% and the available offices are mostly just scrappy bits of old buildings here and there. It takes years to build new offices and in Ireland you're more less limited to 4 floors.
Financial services companies tend to cluster in the same places. It makes hiring easier, regulation more consistent etc. Dublin should have got the AIG gig as it already has an insurance business. We can't just shrug our shoulders that they chose Luxembourg. I hope the IDA is finding out why and is passing that along to the relevant departments (regulation, personal tax levels, housing, office space, transport, health etc etc)
 

Erudite Caveman

Well-known member
Joined
Jul 27, 2016
Messages
7,329
Financial services companies tend to cluster in the same places. It makes hiring easier, regulation more consistent etc. Dublin should have got the AIG gig as it already has an insurance business. We can't just shrug our shoulders that they chose Luxembourg. I hope the IDA is finding out why and is passing that along to the relevant departments (regulation, personal tax levels, housing, office space, transport, health etc etc)
You can shrug your shoulders if you want. You area nobody, handwringing on the internet.

As for the IDA I'm sure they won't. They'll review this and take on board whatever feedback they get and pass it on. And the reason you thought of it is because that is what they always do.
 

Sister Mercedes

Well-known member
Joined
Dec 19, 2011
Messages
20,461
You can shrug your shoulders if you want. You area nobody, handwringing on the internet.

As for the IDA I'm sure they won't. They'll review this and take on board whatever feedback they get and pass it on. And the reason you thought of it is because that is what they always do.
I wouldn't be so sure about that. I think the IDA has been something of a one trick pony, using corporate tax evasion as bait to lure MNC's to set up glorified call centers here.

That won't hack it for high end financial services jobs, where you need highly educated and experienced staff either living here or willing to locate here. Corp tax rates are a long way down the list of their critical issues.
 

HarshBuzz

Well-known member
Joined
Feb 28, 2008
Messages
11,815
Here's an example of 900 jobs moving to the IFSC from London. One firm alone.
 
Joined
Aug 6, 2007
Messages
22,622
I wouldn't be so sure about that. I think the IDA has been something of a one trick pony, using corporate tax evasion as bait to lure MNC's to set up glorified call centers here.

That won't hack it for high end financial services jobs, where you need highly educated and experienced staff either living here or willing to locate here. Corp tax rates are a long way down the list of their critical issues.
AIG Senior staff met with Irish Govt in relation to the move already. Sometimes companies take decisions that are odd, its their money.
 

HarshBuzz

Well-known member
Joined
Feb 28, 2008
Messages
11,815
I wouldn't be so sure about that. I think the IDA has been something of a one trick pony, using corporate tax evasion as bait to lure MNC's to set up glorified call centers here.

That won't hack it for high end financial services jobs, where you need highly educated and experienced staff either living here or willing to locate here. Corp tax rates are a long way down the list of their critical issues.
CT is at the very top of the list for IFSC firms. Followed by the availability of qualified staff.

Dublin ticks both those boxes handsomely. Check out the amount of cranes in the Docklands.
 

HarshBuzz

Well-known member
Joined
Feb 28, 2008
Messages
11,815
AIG Senior staff met with Irish Govt in relation to the move already. Sometimes companies take decisions that are odd, its their money.
Lux is a viable centre. It's going to win its share of business.
 

dalyp

Well-known member
Joined
Feb 17, 2016
Messages
987
AIG Senior staff met with Irish Govt in relation to the move already. Sometimes companies take decisions that are odd, its their money.
You have to wonder how the whole NI thing is at play here - someone like AIG planning on upping sticks and all the cost associated with that might consider Luxenburg a slightly better long term bet than Ireland to remain in the EU
 

cozzy121

Well-known member
Joined
May 26, 2009
Messages
5,117
Dublin is a corrupt backwater. The lack of financial regulation and a government that is subservient to the interests to bankers, bondholders and tax dodging corporates may be all well and good, with the London city spiv, but the place is a kip compared to other European cities.
 
Joined
Aug 6, 2007
Messages
22,622
Loss of 1 job in city of London on a package of £250k means 27 jobs on £23k (average wage) needs to be created to make up for it.

In UK on a slary of £250k Net pay is £143k

HOWEVER on a €250k salary in Dublin Net Pay is €132k
 


New Threads

Most Replies

Top