Big Tech’s Cost Cuts Help Trigger a Dublin Office Crash
New buildings are falling into bankruptcy in Ireland as big tech firms are slashing headcount
Dublin’s North Docks have been transformed since the financial crisis
Photographer: Paulo Nunes dos Santos/BloombergWelcome to The Brink. It’s Jennifer Duggan in Dublin and Neil Callanan in London, where we’ve been looking at a very different kind of office crash emerging in Dublin. We also have news on the latest Chinese developer facing liquidation, Weight Watchers and Ukrainian sovereign bonds. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net or DM on X to @jenniduggan.
The International Financial Services Centre in Dublin was the physical embodiment of Ireland’s economic transformation during the Celtic Tiger. Rundown real estate in a deprived neighborhood gave way to new office buildings housing some of the world’s biggest names in banking thanks to the country’s low corporation tax rate.