Banking, commerce and industry, secretarial and IT  recruiter Contact Recruitment has cut 14 jobs in London, and is closing its Dublin business as a result of deteriorating market conditions. 

“It’s going to be a tough year ahead, and we need to batten down the hatches now,” Uzair Bawany, Contact Recruitment’s managing director told Recruiter.

Bawany told Recruiterthat most job losses are in its London office in the banking division, where 12 jobs have gone out of a total of 21.

Bawany says he took the decision to close the company’s Dublin business because the Irish market had “gone into freefall”.

“It’s very difficult. These are people who you recruited and believed in.  But I have to look at the prerservation of the business,” adds Bawanay.