Markets

Goodbody to cut 20% of investment banking staff

Stockbroker announces a ‘strategic refocus’ as part of which around 20 jobs are expected to be lost

Martin Tormey, Goodbody’s chief executive, said that the company regretted the impact that the layoff would have on affected workers. Picture: RollingNews.ie

Goodbody is laying off a fifth of staff in its investment banking unit, with about 20 staff set to lose their jobs amid a slowdown in trading on Ireland’s capital markets.

The AIB-owned stockbroking firm this afternoon confirmed a “strategic refocus” of the unit, which has around 100 staff, citing the “unprecedented set of challenges” facing investment banks around the world.

Staff were informed of the news this morning, and were also told that Goodbody ...