Redundancy warnings reach two-year monthly high of almost 1,900 potential losses

The number of potential collective redundancies signalled by companies to the Enterprise Minister has hit a two-year monthly high of nearly 1,900.

The figures show 1,862 potential redundancies were advised to the Enterprise, Trade and Employment Minister, Simon Coveney last month. Twenty-eight companies made the notifications.

The figure for February, a 24-month high, was up from 1,284 potential redundancies from 17 companies in January.

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The second-highest figure was November 2022, with nearly 1,700 potential redundancies from 20 companies.

According to Irish law, all employers proposing a collective redundancy must notify the minister ahead of time.

The notification must be made 30 days before the first dismissal.

Employers should notify the minister of a collective redundancy where five employees are to be made redundant in a company of between 21 and 49 people and 10 employees in a firm of between 50 and 99 people.

In larger companies, the minister should be informed if there is a plan to make 10pc of employees redundant where the business employs between 100 and 299 people and 30 employees in an establishment with 300 or more people.

Collective redundancy notifications do not reflect the total number of redundancies across the workforce.

Several large tech firms have already announced job losses.

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Encouraging growth in the north-west is vital to overall economic vitality

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