Tech Layoffs in 2025: How Irish Workers Can Unlock Their Pensions Early

Tech layoffs are rising globally, and Ireland’s tech workforce is beginning to feel the pressure. If you’re over 50 and working in tech, now might be the time to explore your pension unlocking options.

📉 Global Tech Layoffs: 2024 vs 2025

In 2025, tech companies worldwide are facing significant layoffs. According to The Tech Layoff Tracker (U.S.), 283 layoffs have already occurred, impacting 52,899 workers. The average number of layoffs per day is 417, a stark contrast to 653 layoffs per day in 2024.

This sharp increase in layoffs highlights a growing trend among global tech companies: as CEOs strive to boost shareholder value, they often do so by announcing staff reductions. While this benefits shareholders, it’s clear that the impact on workers is far-reaching and often damaging.

Clearly, global tech CEOs are under pressure to boost shareholder value — often by announcing major staff reductions. While this may be good news for shareholders, it’s rarely good news for employees.

🇮🇪 Are Irish Tech Multinationals Cutting Staff?

👉 If you’re a tech worker in Ireland impacted by redundancy, learn how to unlock your pension early. Get expert advice and take control of your future today.

Click here to discover your options.

Ireland is home to a Who’s Who of global tech, including:

Intel, Dell, Hewlett Packard, TikTok, Workday, Meta, Snapchat, Apple, and Microsoft.

Now, the cold winds of change from across the Atlantic are arriving here. Irish tech professionals — from engineers to media analysts — are being offered voluntary or involuntary redundancy packages.

💼 Tech Workers Are Unlocking Pensions Earlier

Traditionally, workers in Ireland delayed pension decisions until their mid-60s. But according to John Morrin, Pension & Redundancy Advisor at QFinancial.ie this is changing quickly:

“Many of our IT clients are facing redundancy aligned with global strategies. They’re asking big questions about their career paths — and importantly, their pensions.”

If you’re unsure how redundancy might affect your pension, you can use our Redundancy Calculator to get an estimate of your potential pay-out and see how much you could unlock from your pension.

Understanding your pension options and having a clear financial plan will help you make the right decisions moving forward.

✅ Redundancy + Pension Unlocking: A Smart Option After 50

The “job for life” concept in tech is gone. The sector in Ireland is still relatively young, and many workers in their early 50s are now considering:

• Accepting redundancy

• Taking tax-efficient lump sums

• Exploring a return to the sector

• Reducing mortgages

• Accessing their 25% tax-free lump sum from their pension

Once you’re over 50 and have left your employer, you can:

1. Transfer your pension into a Personal Retirement Bond (PRB)

2. Take 25% of the fund tax-free

3. Reinvest the balance in an Approved Retirement Fund (ARF) or Personal ARF

This gives you full personal control over your pension strategy and investments.

💬 Specialist Advice for Tech Workers in Ireland

Workers from tech firms like Intel, Dell, HP, Meta, Apple, and others are increasingly:

• Changing employers in their 50s

• Taking control of their pensions

• Planning smarter financial futures

You can receive full calculations and specialist pension advice tailored to your situation at:

👉 UnlockPension.ie
A service provided by QFinancial.ie

FAQ – Unlocking a Tech Pension in Ireland

Q: Can I access my pension early if I’m made redundant from a tech job?
A: Yes, if you’re over 50 and have left your employer, you may unlock 25% of your pension tax-free and transfer the rest to an ARF.

Q: What is a Personal Retirement Bond (PRB)?
A: It’s a fund that gives you personal control over your former employer’s pension scheme after you leave.

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