Saturday August 8, 2020

Hundreds of jobs at risk at CIT Group

Several hundred jobs at the Irish operations of troubled US finance company CIT Group could be under threat, with the company set to file for bankruptcy in the US, triggering a major restructuring. CIT announced on Friday that billionaire investor Ca

31st October, 2009

Several hundred jobs at the Irish operations of troubled US finance company CIT Group could be under threat, with the company set to file for bankruptcy in the US, triggering a major restructuring. CIT announced on Friday that billionaire investor Carl Icahn would support the application for a ‘‘prepackaged bankruptcy’’, which means it will seek to restructure its business.

CIT Group, which has lost $5 billion over the past nine quarters,...

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