Markets

Davy launches compulsory redundancy talks with staff

Davy has opened compulsory layoff talks with five workers after five took voluntary exit packages in Ireland and eight confirmed exits from UK office

Davy: the firm has been hiring across the business but has imposed layoffs in its capital markets division. Picture: Getty

Davy has started new compulsory redundancy talks with staff as part of its plan to cut 18 jobs in its capital markets division across Britain and Ireland, the Business Post understands.

The stockbroking firm confirmed in September that it was planning a restructuring of its capital markets arm amid a slump in the trading of Irish equities, in a plan to lose up to 18 staff before the end of the year.

Eight staff have ...