On Air Sarah Hendy In for Alex | 3:00pm - 5:30pm

Abacus lays off 13

The ripples from the Chancellor of the Exchequer's Budget have been felt by Abacus Financial Services, in Circular Road, Douglas. It has laid off 13 staff after changes announced by Alistair Darling, affecting certain financial structures operated by the firm.

A spokesman said the lays off were regretted but in the current buoyant Manx climate, some of those affected had already found new jobs. The firm still employs over 90 staff and says the future is bright, with an alliance with Merrill Lynch looking good as well as good things expected of its aircraft and yachting departments.

More from Isle of Man Business