GE Woodchester will transfer part of its motor leasing collection business to Britain with the loss of 35 jobs.

A spokesman for the company, which employs 550 people in the Republic, said the jobs were being transferred as part of the "ebb and flow" of roles and responsibilities within a multinational company. The positions are associated with a UK-based motor portfolio, which will be integrated within its UK operations.

The spokesman added that GE Woodchester was maintaining its dominant position in the automobile and equipment lease market and the group was very comfortable with the performance of the business.