A number of staff working for AXA Insurance in Dublin city centre have been told their jobs are moving to Derry.

The workers, who are currently based at Wolfe Tone Street in Dublin, have been informed by the company.

A statement from AXA this afternoon said that it operates on an all-island basis - and has decided to consolidate some of its operations in the interests of efficiency and customer service.

It says net losses will be small, but does not give a figure.

The company said that it is confident redundancies can be achieved on a voluntary basis.