Canada Life chops Dublin sales team
Dublin-based pension and investment provider Canada Life has cut its broker/institutional sales division in half in the face of slowing demand for its products.
10 broker consultants from a team of 26 have been made redundant, and a further three redeployed to other divisions, as the firm "had to cut our cloth to suit the market and our budgets."
The move is a sudden turnaround for Canada Life, who up until September had plans to double its share of the Irish market. A spokesperson says that the slowdown since that time had led to a detailed review of its Irish operations and a need to restructure to realign resources.
The firm currently employs 550 people in Ireland.
