Coinbase cuts jobs at Irish operation; Standard Chartered moves to sell Dublin-based aviation group
The stories you need to read this morning in business, politics and current affairs
Coinbase: 100 jobs to be lost in Ireland as crypto exchange cuts workforce by 20%
Around 100 jobs will be cut at Coinbase’s Irish operation as part of a round of global layoffs announced by the US-listed cryptocurrency exchange, the Business Post understands.
The company employs around 230 people in Ireland from its almost 5,000 workers around the world. It is cutting 950 jobs overall in a restructuring plan that marks its third round of layoffs since last year.
Standard Chartered moves to sell Dublin-based aviation group
Dublin-based aircraft-leasing firm Pembroke could be sold as Standard Chartered has announced it is considering selling its aviation finance business in an effort to cut costs and improve shareholder returns.
Standard Chartered bought Pembroke Capital in 2007 as it looked to broaden its product range and launched Standard Chartered Bank Aviation Finance. The company said in a statement that it “intends to explore alternatives for the future ownership of its aviation finance business.”
Irish staff not informed of job cuts as Reach announces 200 redundancies
Irish staff at Reach, the owner of the Irish Mirror and Irish Daily Star, have not been informed of layoffs here despite the group’s plan to make around 200 jobs redundant in a bid to cut £30 million (€34 million) in costs.
Reach employed around 200 people across the island of Ireland as of 2021, when it completed its acquisition of the Irish Daily Star. The company which claims to the largest commercial publisher in Britain employees around 4,000 permanent staff overall. The redundancies are likely to primarily affect those working at Reach publications in England, Scotland and Wales, the Business Post understands.
Killian Woods: Varadkar tweaks government narrative around housing supply
At a press conference following the government’s housing summit on Tuesday, Taoiseach Leo Varadkar talked about the need to scale up the number of homes being built in Ireland, but added the caveat that increasing supply "on its own will not solve this problem".
It appears Varadkar and the current government might now have seen the reality of the situation. Supply isn’t the only solution.
Clare-based HRLocker raises €2m in funding round led by former Kentz CEO
HRLocker, the Co Clare-based company providing management tools for companies, has raised €2 million in a funding round led by the former chief executive of Kentz, the engineering and construction giant.
Hugh O’Donnell, who led the engineering and construction group for over 10 years, made the investment in HRLocker via his MACX3 investment vehicle, which has also previously backed companies that include Teckro and Ingenium.