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Job losses at finance company

News | Published:

STAFF at financial services firm First Names Group in Jersey have been laid off as part of a restructure.

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The company, which has offices on the Esplanade and at the Weighbridge, has refused to confirm the number of job losses ‘in respect to those involved’.

However, it is understood that up to eight people were told at the end of last week that their services were no longer required.

Alison Duffy, group head of marketing, PR and communications, based in Dublin, said in a statement: ‘We recently implemented some changes within our Jersey business which resulted in a small number of people departing the group.

'This was a business-as-usual decision taken to ensure that we have the right structure in place for our growing business.

‘In Jersey we currently employ 282 people, 61 of whom have joined us so far in 2017. We are actively recruiting and currently have eight open vacancies which we hope to fill before the end of the year.’

It is also understood that most, if not all, of those who lost their jobs had been long-standing employees at Nautilus Trust Company before its takeover by First Names in June last year.

Nautilus Trust was last year linked in the national media to the family of former BHS owner Sir Philip Green, after BHS collapsed with the loss of 11,000 jobs and leaving a £571 million black-hole in its pension scheme.

In August this year Sir Philip finally offered up to £363 million to plug the shortfall, in a deal backed by the BHS pension trustees and the Pension Protection Fund.

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