Bermuda-based insurer Ironshore is making “a handful” of its staff in Bermuda redundant as part of a global restructuring programme.A spokeswoman for the company said that approximately 60 to 70 employees will be affected by the IronServe initiative which will be implemented over a 15 to 18-month period.She said that the programme was designed to improve operational efficiencies across all platforms and transition certain business support services.Ironshore entered into a partnership with Genpact, a global back office function provider, to support operational services across all business units throughout its international platforms.The company’s continued growth has necessitated the need to fully assess and develop an operating structure that supports the Ironshore franchise worldwide and manages each of its functions globally. IronServe services also will be marketed to other insurance entities, offering a potential source of revenue.“The IronServe transition will be implemented over a 15 to 18-month timeline, impacting approximately 60 to 70 Ironshore employees worldwide, as well as third-party system function vendors,” said the spokeswoman.“Of these, only a handful of employees in Bermuda will be affected. Ironshore is providing the necessary assistance and financial remuneration to affected employees commensurate with industry leading practices.“Ironshore remains fully committed to Bermuda, as its serves as the company’s headquarters, and executives in that office will remain.”The spokeswoman had not responded by presstime to a query from this paper to confirm how many staff in Bermuda had been affected.