Facebook gives Irish staff more than €300m in shares

Seen & Heard: A ‘hybrid’ model is planned for civil servants, involving regional hubs

Facebook is coming under political pressure in Ireland to give full-time employment rights to hundreds of content moderators. Photograph: Josh Edelson/AFP via Getty

Facebook is coming under political pressure in Ireland to give full-time employment rights to hundreds of content moderators. Photograph: Josh Edelson/AFP via Getty

 

Facebook has handed over more than $360 million (€304 million) of shares in the social media giant to employees based in Ireland over the past five years, the Sunday Business Post reports.

The newspaper said that Facebook, which also owns WhatsApp, has granted staff $185 million of shares and a further $180 million of awards that have not yet been vested. The news comes at a time when Facebook is coming under political pressure in Ireland to give full-time employment rights to hundreds of content moderators, many of whom have to monitor extreme content on the group’s platforms.

Government plans ‘hybrid’ work options for civil servants

The Sunday Business Post also reports that the Government is planning to allow some civil servants who are ordinarily based in Dublin to be able to work for part of the week in regional hubs by the end of next year.

While most civil servants are currently working from home amid Covid-19, the Government is working on a “hybrid” model for after the pandemic to ensure a greater work-life balance. The hope, according to the newspaper, is that the planned model will succeed where the decentralisation drive failed.

Beacon Hospital applies to develop Limerick clinic

Beacon Hospital Sandyford, the largest private hospital in Dublin, which is owned by businessman Denis O’Brien, has applied for planning permission to develop a day clinic for medical consultant, diagnostics and day surgery procedures in Limerick, according to the Sunday Independent.

The hospital, opened in 2006, has satellite clinics in Dublin, Drogheda, Mullingar and Wexford. It posted an operating profit of €7.2 million last year.

U+I and Colony see receivers appointed to Dublin office blocks

US lender Quadrant Real Estate Advisors has appointed receivers to companies owned by London-listed developer U+I Group and California-based Colony Capital that are behind two Dublin office buildings, the Sunday Times reports.

The newspaper said Kieran Wallace of KPMG has been appointed as receiver over certain assets of a company that developed Donnybrook House, a prominent six-storey office development in Dublin 4, which has struggled to find tenants for some of its floors. Mr Wallace has also been appointed as a receiver over certain assets in a company used to develop an office block in Sandyford, south Co Dublin, called the Hive, it said.

Davy snaps up Sarasin’s Irish unit

The Sunday Times also reports that Davy is acquiring the Irish operation of UK-based asset manager Sarasin & Partner, marking the Irish brokerage and investment firm’s tenth acquisition since 2012.

Sarasin cannot continue to operate its Irish unit, which is said to have “hundreds of millions” of euro of assets under management for Irish clients, as a branch of the London business after transition Brexit arrangements expire at the end of next month. Sarasin is ultimately controlled by J Safra Sarasin Holding, a Swiss private bank.