Financial Services Union expresses concern over announcement of proposal for over 100 job losses at FinTrU

Fairness of process is called into question by the FSU

The Financial Services Union (FSU) is supporting its members at FinTrU who are facing redundancy following proposals that could see 114 jobs lost across the company's operations in Belfast and Derry.

FinTrU is a financial technology company that provides compliance, regulatory and risk management services to global financial institutions. Since establishing operations in Northern Ireland, the company has been widely promoted as a significant success story for the region, creating hundreds of highly skilled jobs and attracting substantial investment into Belfast and Derry.

Craig Arden, Industrial Relations Organiser with the Financial Services Union, said:

“The company has proposed 19 redundancies in Derry and a further 95 redundancies in Belfast. Workers have also been advised that, if selected for redundancy, they may receive only statutory redundancy payments despite enhanced redundancy terms having reportedly been applied in previous restructuring exercises.

“These proposed redundancies will have a significant impact on workers and their families in both Belfast and Derry. Our members are deeply concerned not only about the prospect of losing their jobs, but also about the fairness of the process being followed.

“The Financial Services Union has significant concerns regarding the procedural fairness of the redundancy process and has written to FinTrU CEO Darragh McCarthy outlining those concerns.

“We call on the company to restart the consultation process to ensure all affected employees receive fair and consistent treatment, to apply enhanced redundancy payments to support workers during the ongoing cost-of-living crisis, and to engage directly with the union throughout the process.

“FinTrU has been widely recognised as one of Northern Ireland's economic success stories. We believe workers who have contributed to that success deserve to be treated fairly, consulted meaningfully and provided with appropriate support if redundancies cannot be avoided.”

The Financial Services Union is continuing to support affected members and has called on the company to engage directly with the union to ensure workers' concerns are heard and addressed throughout the consultation process.

ENDS