Financial services company FinTrU is eliminating 114 positions across its Northern Ireland operations as part of what it describes as a "proposed restructuring". According to BBC News, the Financial Services Union has raised concerns about the fairness of the consultation process in a letter to the company.
The restructuring will affect 95 employees in Belfast and 19 in Londonderry, according to the union's assessment. FinTrU operates support services including compliance and risk management for major banks from offices in Belfast, Londonderry, Letterkenny in the Republic of Ireland and Porto in Portugal.
The Financial Services Union has stated that with 114 employees at risk, the consultation period should extend for a minimum of 90 days and should be restarted. The union raised concerns that the current process may not meet the standards required for a restructuring of this scale.
FinTrU confirmed it has initiated the "proposed restructuring affecting a number of roles". The company attributed the move to "a wider strategic review" and described it as part of an "organisational realignment to support long-term growth and ensure it remains aligned with evolving operational needs".
The company stated it remains committed to supporting employees affected by the proposals throughout the consultation process. However, the union's intervention suggests there are disagreements about how the process is being conducted and whether proper procedures are being followed.
Recent financial accounts reveal the FinTrU Group employed 1,360 people in 2025, a decline from 1,419 in 2024. This latest restructuring would represent a further significant reduction in the company's workforce.
What happens next?
The consultation process is expected to continue, though the Financial Services Union has called for it to be extended and potentially restarted to ensure compliance with proper procedures for large-scale redundancies.
