Concerns grow for Donegal firm

Company say it does not comment on potential business transactions

Concerns grow for Donegal firm

The Pramerica campus in Letterkenny

Concerns are growing that US multinational Pramerica, the largest employer in Donegal, could be set to announce job cuts at its Letterkenny campus.

A conference call meeting was held with local employees yesterday afternoon, (Monday), in which they were told that a strategic review is ongoing.

There has been speculation for a number of months now that possible cutbacks were on the way.

Workers were said to be confused and concerned about this latest development. Some said they deserved more clarity about their future.

Opening with just eight employees in June 2000, Pramerica has grown to become the largest employer in Donegal with more than 1,650 employees people on its staff.

The company provides a wide range of technology and business services and solutions to Prudential Financial, Inc., one of the world’s largest financial services institutions.

Their new 130,000-square-foot €42 million campus which opened in 2017 features green technologies for electricity generation and rainfall harvesting.

It has parking for more than 1,000 vehicles, landscaped and green areas for staff recreation and many other amenities.

At that time senior vice-president and chief information officer, Barbara Koster, said their investment underscored their commitment to the Letterkenny community and to Ireland.

“This new campus ensures that the immensely talented people who work here have every resource they need to provide excellent service to the customers they support. The exceptional community backing we enjoy here only adds to the success.”

Only last month the company told how well they had coped with the Covid-19 situation saying just one to two per cent of their employees were working at their Letterkenny campus during the lockdown.

The company closed their small satellite premises in Buncrana, Donegal town and Gaoth Dobhair for the lockdown because of the difficulty in managing social distancing.

The company issued a statement last night in relation to the matter.

It stated: "Prudential Financial regularly evaluates strategic opportunities for its businesses and operations, including internationally. As a company policy, we do not comment on potential business transactions."

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