Endurance has made a number of its staff redundant due to the effects of the economic crisis, The Royal Gazette has learned.

The insurance company, based in Pitts Bay Road, has also said it plans to stay in Bermuda, despite the job cuts.

David Cash, president of Endurance Bermuda, told the paper that the company had made "some" employees redundant yesterday as a result of the tough economic environment, but could not confirm how many until they had all been told.

He added that the firm was committed to doing business on the Island and had no intention to move domicile.