Fexco to cut jobs in Britain as part of restructuring

Kerry-based financial services giant has placed two foreign exchange shop brands into administration in recent weeks

9th August, 2020
Fexco to cut jobs in Britain as part of restructuring
CEO Denis McCarthy, Irish-international fintech company, Fexco. Picture: Valerie O’Sullivan

Fexco, the Kerry-based financial services giant, is expected to cut jobs in Britain as part of a restructuring of its retail foreign exchange division.

The company has placed two of its high street foreign exchange shop brands – No1 Currency and Thomson Exchange Group – into administration in recent weeks as it looks to reduce costs amid the slump in travel.

Administration is a similar process to examinership in Ireland, allowing companies to restructure with...

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